99-07_international_T1.html (Jul-1999)

A monthly magazine offering industry news, statistics and technical editorial to the oil and gas drilling, exploration and production industry.

U.S. majors’ executive Top-5 compensation, employment levels
	Base pay,		Total cash comp.,						1999
	($ millions)		($ millions)			Number of employees			layoffs slated
Company	1998	1997	1998	1997	% diff.	1998	1997	% diff.
BP Amoco	5.38	n.a.	8.87	7.06	25.6	96,650	100,800	– 4.1	2,000
Exxon	5.25	4.77	8.59	8.12	5.8	79,000	80,000	– 1.3	4,500*
Arco	4.03	3.84	7.09	8.65	– 18.0	18,400	18,700	– 1.6	1,200
Mobil	2.98	3.51	6.49	6.60	– 1.7	41,500	42,700	– 2.8	4,500*
Chevron	3.48	3.23	6.34	6.89	– 8.0	39,191	39,362	– 0.4	**
Conoco	2.32	1.94	4.77	5.53	– 13.7	16,650	16,000	4.1	975
Texaco	3.04	2.20	4.69	4.51	4.0	24,628	29,313	– 16.0	1,000
Amerada Hess	3.74	3.69	4.51	4.93	– 8.5	9,777	9,216	6.1	400
Phillips Petroleum	2.92	2.68	4.45	5.65	– 21.2	17,300	17,100	1.2	1,400
Occidental Petr.	3.94	4.10	4.27	9.07	– 52.9	9,190	12,380	– 25.8	500
Unocal	2.42	1.98	3.04	2.45	24.1	7,880	8,394	– 6.1	**
Kerr-McGee	1.78	1.65	2.24	2.60	– 13.8	3,367	3,746	– 10.1	**
Totals	41.28	33.59	65.35	72.06	– 9.3	363,533	377,711	– 3.8	16,475**

*The 4,500 figure represents half of the 9,000 layoffs that the Exxon Mobil combination anticipates.
**Layoff total expected for 1999 does not include unspecified numbers at Chevron, Unocal and Kerr-McGee.

Copyright © 1999 World Oil
Copyright © 1999 Gulf Publishing Company