In the strange universe of global oil capitalism — where gravity appears to work in reverse — Shell’s chief executive has just demonstrated the timeless corporate principle that less profit can still mean more pay.
According to Shell’s newly released annual report, CEO Wael Sawan’s remuneration surged by more than 60% to £13.8 million in 2025, up from £8.6 million the previous year.
The catch?
Shell’s profits fell sharply at the same time.
The company reported adjusted earnings of $18.5 billion for the year — down from $23.7 billion previously, a drop of roughly 22%.
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