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NEW YORK (AP) - Soaring energy prices may be blowing a hole in drivers' wallets, but they've been mostly good news for oil companies shareholders — and doubly so for top executives like Occidental Petroleum Corp. CEO Ray Irani.
Aided by a doubling of the Los Angeles-based company's share price over the last 2 1/2 years, Irani realized a gain of $270.2 million last year on stock options he exercised. That put him atop The Associated Press list of highest payouts for options exercises last year, based on data from Capital IQ, a Standard & Poor's unit.
It also comes on top of Irani's $52.8 million in total compensation for 2006 that placed him No. 3 on the AP's separate list of top-paid chief executives.
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