Oil and gas major bp has reported another set of strong results as energy prices remain high.
Profits hit $5 billion (€4.55 billion) in the first three months of this year, the BBC reported, although this was down from $6.2 billion (€5.6 billion) last year with oil prices having fallen from the peak seen after Russia's invasion of Ukraine.
BP reported record annual profits last year as the company - along with the rest of the energy sector - benefitted from the surge in oil and gas prices following Russia's invasion of Ukraine.
It has led to big profits for energy companies, but also fuelled a rise in energy bills for households and businesses.
Nick Butler, a former BP executive and visiting professor at Kings College London, said the strong results had come “from a good internal business performance but also from high prices around the world”.
He told the BBC's Today programme the firm's profits were likely to “come down quite a lot this year” as oil and gas prices were falling back.
“That will have an impact on the revenue they get and the taxes they pay," he added.
bp records huge profits but levels down from last year
