Campaigners in the UK have labeled BP chief executive Bob Dudley’s pension scheme “excessive,” after the oil tycoon pocketed £1.7 million in pension benefits last year.
Dudley’s award is roughly 10 times the average pension payment received by a FTSE 100 director and 62 times the average annual salary in the UK.
News of his benefit prompted hostility after BP posted a 10 percent fall in profits in February.
The oil giant also announced it would be cutting capital expenditure by between $4 billion and $6 billion this year.
This is in addition to £665 million cost-cutting drive, which involves sacking 200 full-time onshore positions and 100 contractor roles from its North Sea workforce.
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