Oil and gas giant bp has recorded annual profits of $27.7 billion (€25 billion).
The company's profits more than doubled last year as energy prices soared after Russia invaded Ukraine.
Shell also recorded record-breaking profits last week.
BP boss Bernard Looney said the British company was “helping provide the energy the world needs” while investing the transition to green energy.
The company - which was one of the first oil and gas giants to announce an ambition to cut emissions to net zero by 2050 - had previously promised that emissions would be 35-40% lower by the end of this decade.
However, it later said it was now targeting a 20-30% cut, saying it needed to keep investing in oil and gas to meet current demands.
Andrew Griffith, Economic Secretary to the Treasury, who the BBC spoke to for the government's position, said the windfall tax struck the "right balance" between helping families with the cost of living and securing the UK's energy supplies. He said its aim was to encourage re-investment of the sector's profits back into the economy
Nick Butler, previously a senior executive at BP and now a visiting professor at Kings College, who the BBC spoke to because of his industry experience, said oil and gas prices would not remain "exceptionally high" forever.
He added: "This is a temporary situation. Oil and gas prices are going down and the windfall these companies are making won't last."
Record profits for bp as energy prices soar
