The oil and gas giant made £7.1bn between July and September which amounts to more than double its profit for the same period last year.

This was even more than the figure predicted by market analysts, who forecast that the firm would make £5.3bn over the quarter.

“Another week, another £7.1bn banked by BP in profits, with billions to be paid out to investors,” Greenpeace UK campaigner Philip Evans said.

“Meanwhile the homes of the poorest households in the UK urgently need insulation, the growing numbers in fuel poverty need financial support, and further investment in cheap renewables could lower our bills permanently.

“As Chancellor, [Rishi] Sunak imposed a windfall tax on these companies but gave them a loophole so big it turned into a huge tax break for more oil and gas. That won’t address the cost of living crisis, won’t provide energy security and will only make the climate emergency worse.

“An appropriate level of tax on BP and the other oil majors...