Shell CEO’s pay jumps 60% despite slump in oil firm’s profits
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<p>Campaigners say people unlikely to ‘look favourably’ on package for Wael Sawan, which rose to £13.8m in 2025</p><p>The chief executive of Shell saw his pay jump more than 60% to almost £14m in 2025 despite a slump in profits at the oil company and prospects of <a href="https://www.theguardian.com/politics/2026/mar/11/nothing-off-the-table-as-rachel-reeves-considers-targeted-support-over-energy-costs">rising pump prices</a> related to war in the Middle East.</p
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Shell CEO’s pay jumps 60% despite slump in oil firm’s profits Campaigners say people unlikely to ‘look favourably’ on package for Wael Sawan, which rose to £13.8m in 2025 The chief executive of Shell saw his pay jump more than 60% to almost £14m in 2025 despite a slump in profits at the oil company and prospects of rising pump prices related to war in the Middle East. The package for Wael Sawan, who took the top job in 2023 and has refocused the company on fossil fuels, rose from £8.6m in 2024 to £13.8m in 2025. The increase, announced in the company’s annual report, triggered an immediate backlash from pay campaigners, who said people were unlikely to “look favourably” on Sawan’s pay rise given fears around another rise in energy and fuel prices linked to the US-Israeli war on Iran . Oil prices briefly topped $100 a barrel again on Thursday as widespread Iranian attacks on Middle Eastern energy facilities overshadowed a vast release of government reserves, ordered by the International Energy Agency on Wednesday. Sawan received £1.9m in his fixed salary, pensions and benefits but most of the bumper package came from £11.8m in bonuses. This included a £2.7m bonus for the year and a £9.1m share award linked to longer-term business targets. The huge pay rise came even after Shell reported a 22% drop in annual profits, with adjusted earnings at $18.5bn (£13.6bn) for 2025 compared with $23.7bn in 2024, because of weaker oil prices last year. It marked the third year in a row that the company reported falling profits since making almost $40bn during the 2022 energy crisis. Andrew Speke of the High Pay Centre thinktank said: “As consumers fear another rise in energy and fuel prices, this time linked to conflict in the Middle East, few are likely to look favourably on the chief executive of Shell receiving a substantial pay rise. “The increase appears to be part of a broader pattern among the largest FTSE 100 companies, who are showing less restraint in executive compensati...
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