Bernard Looney, chief executive officer of BP Plc, gestures during a press conference in London, UK, on ​​Wednesday, February 12, 2020.

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BP CEO Bernard Looney’s total compensation in 2021 rose from £1.74 million to £4.46 million ($5.86 million), according to BP’s annual report published on Friday.

BP’s 2021 profit hit an eight-year high thanks to higher oil and gas prices, following a loss last year marked by slumping demand for fuel amid coronavirus restrictions.

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