Production extract oil and gas from underground. The price they sell at is governed by the wholesale market which has gone nuts because of 2 main factors: - post covid boom where demand, particularly from Asia, has meant a lot more people want to buy the (relatively) same amount of gas - Ukraine war has meant that Europe has effectively turned off the tap to Russia, which supplied around 40% of their gas. This creates another supply/demand imbalance which pushes the price up. Therefore companies involved in the sale of gas to the market are coining it in. The cost to produce the gas remains (relatively) static while the value of the product skyrockets - hence the massive profits. However, the media frustratingly conflates production companies (eg bp, Exxon, Shell) with energy suppliers (eg octopus, British Gas, Eon) who are stuck in a place that it costs the same amount to supply gas to properties but the wholesale price has skyrocketed so they are having to pay a lot more. Electricity is similar.

Note my explanation on domestic gas/electricity supply is massively simplified but the gist of it is accurate.