ExxonMobil’s chief executive officer, Darren Woods, drew a total compensation package worth 36 million dollars in 2022, marking a 52 percent increase from the prior year and effectively doubling the level seen in 2020. This figure reflects Woods’ combined earnings from base salary, annual incentives, and long-term pay opportunities that vest over time. In addition to the headline salary, Woods received 6.4 million dollars in cash bonuses and 13.5 million dollars in awards tied to corporate securities during the same year, underscoring a compensation structure that favors performance-based rewards aligned with the company’s financial results.
The year 2022 proved to be highly favorable for many oil and gas majors as rising global energy prices translated into stronger top-line results and expanded profitability. ExxonMobil posted a record net profit of 55.7 billion dollars, more than doubling its earnings compared with 2021. Other leading players in the sector–Chevron, TotalEnergies, Shell, and BP–also reported higher profits, reflecting a broader industry trend driven by tighter energy supply dynamics and resilient demand. Collectively, these five giants generated profits that, when combined, approached the 200 billion-dollar mark for the year, illustrating the scale and profitability of integrated energy companies in a volatile market environment.
Recent reporting from major financial news outlets indicated that ExxonMobil paused a major deep-water development project off the coast of Brazil, citing commercial impracticality as the primary driver. The decision highlights how project economics, commodity price outlooks, and capital discipline influence corporate portfolio choices in a capital-intensive sector. Analysts noted that such curtailments can reshape the company’s future production profile and capital expenditure trajectory while reflecting a broader industry emphasis on high-return opportunities and risk management amid fluctuating energy markets.
In February, reports surfaced that Intel, the American semiconductor pioneer, implemented salary adjustments that affected both general staff and higher management levels. The moves were described as a response to evolving market conditions and organizational priorities, with the intent of aligning compensation practices with company performance and financial objectives. Observers noted that compensation recalibrations in technology and manufacturing sectors often accompany strategic shifts, including investment in research and development, workforce realignment, and efficiency initiatives aimed at sustaining competitive advantage in a highly dynamic global landscape.