Property, Plant And Equipment And Asset Retirement Obligations (Tables)

12 Months Ended

Dec. 31, 2011

Property, Plant And Equipment And Asset Retirement Obligations [Abstract]


	Dec. 31, 2011				Dec. 31, 2010
Property, Plant and Equipment	Cost		Net		Cost		Net
	(millions of dollars)

Upstream	$	283,710	$	163,975	$	264,136	$	148,152
Downstream		67,900		28,801		68,652		30,095
Chemical		30,405		14,469		29,524		14,255
Other		11,980		7,419		11,626		7,046
Total	$	393,995	$	214,664	$	373,938	$	199,548

Asset Retirement Obligations


	2011			2010
	(millions of dollars)

Beginning balance	$	9,614		$	8,473
Accretion expense and other provisions		581			563
Reduction due to property sales		(854	)		(183	)
Payments made		(662	)		(638	)
Liabilities incurred		117			1,094
Foreign currency translation		(62	)		(45	)
Revisions		1,844			350
Ending balance	$	10,578		$	9,614

- Definition

The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

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- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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