Rising oil prices have put the spotlight back on the amount of money energy firms are making since prices surged at the beginning of the Iran war.
Energy firms operating in the UK are subject to a windfall tax that was introduced in 2022 to help limit household gas and electricity bills.
Companies and trade bodies in the oil and gas sector have argued the levy is hitting jobs and investment.
The government has said a new windfall tax on oil and gas companies will be introduced in 2030, which it says will give the sector long-term certainty.
A windfall tax is a levy imposed on companies that have benefited from something they were not responsible for - in other words, a windfall.
