Shell boss earns £1.8m despite profit fall

Philip Watts, chairman of oil giant Shell, earned £1.8m (€2.67m) during a year in which profits and shares both fell, it emerged today.

The figure included a salary of £745,969 (€1.107m) and performance related pay of £874,000 (€1.297m), the Anglo-Dutch company said in its annual report.

Watts' earnings are some way short of that enjoyed by BP counterpart Lord Browne, who pocketed £3m (€4.45m) in pay and bonuses last year.

Shell and BP have seen their share prices fall to levels not seen since 1999 after low oil prices and economic uncertainty hit full-year profits.