BP BP Plc

   By Oliver Griffin 
 

BP PLC (BP.LN) said on Thursday that Chief Executive Bob Dudley earned a total remuneration of $13.4 million in 2017, representing a 13% increase on his pay for 2016.

The oil-and-gas company said executive director remuneration reflected its strong operational and financial performance, and was in line with a new, more demanding remuneration policy that was approved last year.

Some of Mr. Dudley's pay related to long-term performance shares granted on an old policy, the company said.

BP said the remuneration committee used its discretion and applied the new policy to the old shares and that, as a result, Mr. Dudley's pay was in fact reduced to $13.4 million from $17.6 million.

Write to Oliver Griffin at oliver.griffin@dowjones.com

(END) Dow Jones Newswires

March 29, 2018 06:42 ET (10:42 GMT)

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