Whiting Petroleum Corp.’s board approved $14.6 million in cash bonuses for top executives days before the shale oil producer filed for bankruptcy.
Oil giant BP is facing growing pressure from shareholders over its decision to award top bosses their maximum bonuses for 2015.
Statoil employees been awarded bonuses of more than NOK50,000 on their average pay.
An oil firm has announced it is reviewing the bonus provision of 200 offshore workers. Expro is carrying out the review as a result of the ongoing oil price downturn. An Expro spokeswoman said: “The company has communicated with employees to explain the reason for this difficult decision, which is in direct response to the current tough operating environment.