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£10.1m is Shell of a pay packet for oil giant’s boss

By STEVE HAWKES, Business Editor
Published: Today at 13:41

THE BOSS of SHELL trousered £10.1million last year – and didn’t spend a penny on petrol.

The oil giant’s annual report today revealed chief executive Peter Voser made a fortune in bonuses and long-term share awards.

Benefits included “company provided transport for home-to-office commuting”.

It came as a government-commissioned report said there are nearly EIGHT MILLION Brits in “fuel poverty”.

Shell made huge profits of £18billion – or £2million an hour – last year as oil prices soared to near record levels.

On average Shell filling stations are more expensive than supermarket forecourts.

And it is also one of the biggest suppliers of gas to this country.

Shell said more than half Mr Voser’s windfall was down to bonus schemes in the past three years paying out at the same time.

But the bumper sum will infuriate motorists – and cash-strapped homeowners.

For every one dollar increase in global oil prices, oil giants make as much as £223million in profit over the course of a year.

Delivering its annual profits last month, Shell said oil prices were typically £19 higher in 2011.

And that has hit motorists in the wallet with the price of petrol reaching records levels this month – and motorists are spending nearly £6million-A-DAY more than a year ago to fill up.

The fuel poverty report by London School of Economics professor John Hills revealed that 7.8million people in 2.7million homes across Britain are “fuel poor”. This compares with 7.2million people in 2009.

Professor Hills believes they’re forking out an extra £1.1billion to heat their homes because they’re being put on pricey pre-payment meters and don’t have insulation.

SOURCE

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