Oil shareholders revolt

MORE than 40pc of Premier Oil’s shareholders at its AGM voted to reject the pay package handed to the chief executive.

tony Durrant’s pay was increased by 7pc in 2018, despite the abysmal performance of Premier’s shares.

Over past the 12 months the stock has sunk by 12.6pc overall. It is down by more than 70pc compared to five years ago. Last night it closed down 8.8pc, or 7.92p, at 98.28p.

But for the year to December 31, Durrant’s pay rose from £1.5m to £1.6m.

the 60-year-old’s package included a £569,000 salary, nearly £880,000 in bonuses and benefits such as medical insurance, a subsidised gym membership and a £15,000 car allowance.