Financial Instruments and Derivatives (Tables)

12 Months Ended

Dec. 31, 2019

Financial Instruments And Derivatives [Abstract]

Financial Instruments

					At December 31, 2019
					(millions of dollars)

					Fair Value
																	Difference
											Total Gross		Effect of		Effect of		in Carrying		Net
											Assets		Counterparty		Collateral		Value and		Carrying
					Level 1		Level 2		Level 3		& Liabilities		Netting		Netting		Fair Value		Value
Assets
	Derivative assets (1)				533		102		-		635		(463)		(70)		-		102
	Advances to/receivables
		from equity companies (2)(7)			-		1,941		6,729		8,670		-		-		(128)		8,542
	Other long-term
		financial assets (3)			1,145		-		974		2,119		-		-		44		2,163

Liabilities
	Derivative liabilities (4)				568		70		-		638		(463)		(105)		-		70
	Long-term debt (5)				25,652		134		3		25,789		-		-		(1,117)		24,672
	Long-term obligations
		to equity companies (7)			-		-		4,245		4,245		-		-		(257)		3,988
	Other long-term
		financial liabilities (6)			-		-		1,042		1,042		-		-		16		1,058

					At December 31, 2018
					(millions of dollars)

					Fair Value
																	Difference
											Total Gross		Effect of		Effect of		in Carrying		Net
											Assets		Counterparty		Collateral		Value and		Carrying
					Level 1		Level 2		Level 3		& Liabilities		Netting		Netting		Fair Value		Value
Assets
	Derivative assets (1)				297		-		-		297		(151)		(146)		-		-
	Advances to/receivables
		from equity companies (2)(7)			-		2,100		6,293		8,393		-		-		215		8,608
	Other long-term
		financial assets (3)			848		-		974		1,822		-		-		112		1,934

Liabilities
	Derivative liabilities (4)				151		-		-		151		(151)		-		-		-
	Long-term debt (5)				19,029		117		4		19,150		-		-		85		19,235
	Long-term obligations
		to equity companies (7)			-		-		4,330		4,330		-		-		52		4,382
	Other long-term
		financial liabilities (6)			-		-		1,046		1,046		-		-		(3)		1,043

(1) Included in the Balance Sheet lines: Notes and accounts receivable, less estimated doubtful amounts and Other assets, including intangibles, net

(2) Included in the Balance Sheet line: Investments, advances and long-term receivables

(3) Included in the Balance Sheet lines: Investments, advances and long term receivables and Other assets, including intangibles, net

(4) Included in the Balance Sheet lines: Accounts payable and accrued liabilities and Other long-term obligations

(5) Excluding finance lease obligations

(6) Included in the Balance Sheet line: Other long-term obligations

(7) Advances to/receivables from equity companies and long-term obligations to equity companies are mainly designated as hierarchy level 3 inputs. The fair value is calculated by discounting the remaining obligations by a rate consistent with the credit quality and industry of the company.

Derivative Instruments - Before-Tax Realized and Unrealized Gains / (Losses)

						2019		2018		2017
						(millions of dollars)

Sales and other operating revenue						(412)		130		6
Crude oil and product purchases						179		(120)		(105)
		Total				(233)		10		(99)