£15,000 a day pay packet for BP chief

The chief executive of BP was rewarded for a year of bumper profits with a £5.65 million pay package - equivalent to more than £15,000 a day.

Lord Browne of Madingley, 56, picked up £3.7 million in pay and bonuses for 2004 when the record cost of crude sent profits rocketing to $16.2 billion (£8.7 billion).

He also benefited from share options worth £1.9 million after BP performed well against four of its biggest rivals, including Shell, which saw its share price plunge in the wake of the reserves fiasco last year.