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Occidental Petroleum restores major portion of CEO pay as oil prices rise

By Reuters Staff
2 Min Read
(Reuters) - Occidental Petroleum Corp said on Thursday it had restored a major portion of its chief executive officer’s base salary, nearly a year after its management and employees were to forced to take a pay cut to battle one of the industry’s worst downturns.
CEO Vicki Hollub’s salary was restored to $1 million, effective Jan. 1, 2021, with the move coming at a time when U.S. crude prices have touched a year high and are near $60 per barrel.
Hollub’s salary of $1.35 million was slashed by 81% in March, while the base salary of executives was capped at $250,000. In July, however, the company approved a partial restoration by capping salaries at $500,000 limit. ....

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Daily on Energy, presented by API: Eight oil majors commit to more detailed emissions reporting

Daily on Energy, presented by API: Eight oil majors commit to more detailed emissions reporting
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GROUP OF OIL MAJORS PLEDGES TRANSPARENCY: Eight major oil companies are pledging more detailed reporting on their emissions reductions, following pressure from investors seeking to hold them accountable for the long-term climate targets they are setting.
As part of broader “energy transition” principles released today, the oil majors promised to begin disclosing the risks their companies face from climate change and carbon policy consistent with recommendations from the Task Force on Climate-related Financial Disclosures, the global benchmark for such disclosures. ....

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