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Exxon Mobil Corp is raising the annual base salaries of its top boss and other executives for next year, the largest U.S. oil company said on Monday.
Exxon Mobil's compensation committee approved an increase in the annual salary of Chief Executive Officer Darren Woods to $1.88 million from $1.70 million this year, according to a filing.
Kathryn Mikells, who became the company's chief financial officer in August last year, will receive a base pay of $1.22 million in 2023.
The company also raised the salaries of its senior vice presidents, effective Jan. 1, 2023.
Base salaries, however, represent less than 10% of total pay, with stock awards and bonuses making up a bigger share of what Exxon's executives pocket every year.
The Houston-based oil major paid Woods a total compensation of $23.6 million in 2021 and $15.6 million in 2020.
The pay hikes come barely a month after the oil major posted record quarterly profits as sanctions on Russia sent crude and gas prices soaring to dizzying heights this year.
U.S. energy firms this week left the number of oil and natural gas rigs operating unchanged for the first time since June, energy services firm Baker Hughes Co said in its closely followed report on Friday.
The total U.S. oil and gas rig count, an early indicator of future output, remained unchanged at 784 in the week to Dec. 2.
That puts the total rig count up 215, or 38%, over this time last year.
U.S. oil rigs held at 627 and gas rigs were at 155.
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