By Justin Scheck 
 

BP PLC (BP) Chief Executive Bob Dudley saw his total compensation including pension increase to more than $15 million in 2014, up about $700,000 from 2013, during a year when the company took a quarterly loss, according to its annual report released Tuesday.

Mr. Dudley received more money even though his 2014 bonus was slashed to about $1 million, down about $1.3 million from 2013, the report said. Mr. Dudley came out with more money largely through $3.4 million in payments from his 2011 bonus that he had deferred.

With those deferred payments, Mr. Dudley's total compensation--including benefits, shares and pension--was about $15.3 million in 2014. His total compensation in 2014 was about $14.6 million.

Write to Justin Scheck at Justin.Scheck@wsj.com

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