Bernard Looney’s pay almost doubles as rising oil prices turn BP into 'cash machine'

Remuneration package for the Kerryman package includes €2.86m in bonuses for financial performance

Bernard Looney’s reward was announced as the company reported its biggest profit in eight years.

The pay of BP’s boss, Bernard Looney, ballooned to nearly £4.5m (€5.37m) in 2021, after soaring oil prices transformed the company into a “cash machine”.

Looney, from Kerry, enjoyed an inflated pay packet thanks to £2.4m (€2.86m) in bonuses based on financial performance. He announced last month that BP was selling its 20% stake in the Kremlin-controlled oil company Rosneft after coming under pressure from the UK government,