Top oil and natural gas executives are making more money this year even as the industry wallows in red ink.
The average total compensation for chief executive officers in the exploration and production industry has increased by 7% to $6.8 million in 2020, mostly due to the predominance of long-term incentives, according to a survey by management-consulting firm Alvarez & Marsal. Finance chiefs saw a more modest 2% increase that elevated the average payout to $3.3 million.
The increase is striking because the industry has been hammered by a devastating demand slump stemming from the pandemic, as well as a ...
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