The pay package for Shell's CEO jumped by half last year to nearly $12 million, the fossil fuel giant said Thursday, as oil and gas companies made record profits from skyrocketing energy costs that have driven a cost-of-living crisis.

London-based Shell paid Ben van Beurden a total of 9.7 million pounds ($11.5 million) in 2022 as annual company profits doubled to an all-time high of $40 billion because Russia's war in Ukraine sent oil and gas prices soaring.

Van Beurden's pay includes a 2.6 million-pound bonus and 4.9 million pounds worth of stock, according to the company's annual report.

https://www.cbsnews.com/news/shell-ceo-ben-van-beurden-pay-package-soaring-energy-prices/