SHELL chief executive Ben van Beurden has seen the value of his total pay rise by more than a quarter after the oil giant achieved bumper profits amid the surge in oil and gas prices.

The company’s annual report shows Mr van Beurden earned total remuneration of €7.4m (£6.3m) last year, up around 28 per cent from €5.8m in the preceding year.

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Mr van Beurden was paid a €2.6m bonus for the latest year. Shell increased annual profits by 300%, to $19.3 billion (£14.3bn) last year, from $4.8bn.

The Dutch executive did not receive a bonus in 2020 amid the downturn in the industry triggered by the pandemic.