Derivative and Financial Instruments (Tables) |
12 Months Ended |
|---|---|
Dec. 31, 2019 | |
| Derivative and Financial Instruments [Abstract] | |
| Balance sheet location and fair value amounts of derivatives | The following table presents the gross fair values line items where they appear on our consolidated Millions of Dollars 2019 2018 Assets Prepaid expenses and other current assets $ 288 410 Other assets 34 40 Liabilities Other accruals 283 370 Other liabilities and deferred credits 28 30 The following table presents the gross fair values collateral, and the line items where they appear Millions of Dollars 2019 2018 Assets Prepaid expenses and other current assets $ 1 7 Liabilities Other accruals 20 6 Other liabilities and deferred credits 8 - |
| Income statement location and gain/loss amounts of derivatives | The gains (losses) from commodity derivatives consolidated income statement were: Millions of Dollars 2019 2018 2017 Sales and other operating revenues $ 141 45 77 Other income 4 7 - Purchased commodities (118) (41) (61) The losses from foreign currency exchange derivatives consolidated income statement were: Millions of Dollars 2019 2018 2017 Foreign currency transaction losses $ 16 1 13 |
| Net exposures/net notional positions of derivative contracts | The table below summarizes our material net exposures contracts: Open Position Long/(Short) 2019 2018 Commodity Natural gas and power (billions of cubic feet equivalent) Fixed price (5) (17) Basis (23) (1) We had the following net notional position of outstanding foreign currency exchange In Millions Notional Currency 2019 2018 Foreign Currency Exchange Derivatives Sell U.S. dollar, buy British pound USD - 805 Sell British pound, buy other currencies* GBP - 21 Buy British pound, sell euro GBP 4 - Sell Canadian dollar, buy U.S. dollar CAD 1,337 1,242 *Primarily euro and Norwegian krone. |
| Net carrying amount of held to maturity investments | Carrying Amount |
| Debt Securities Carried at Fair Value | The following table reflects our investments 2019 which are carried at fair value: Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments Investments and Long- Term Receivables Corporate Bonds Remaining maturities within one year $ 1 59 - Remaining maturities greater than one year through - - 99 Commercial Paper Remaining maturities within one year 8 30 - U.S. Government Obligations Remaining maturities within one year - 10 - Remaining maturities greater than one year through - - 15 Asset-backed Securities Remaining maturities greater than one year through - - 19 $ 9 99 133 |
| Schedule of Unrealized Loss on Investments [Table Text Block] | The following table summarizes the amortized classified as available for sale at December 31, Millions of Dollars Amortized Cost Basis Fair Value Major Security Type Corporate bonds $ 159 159 Commercial paper 38 38 U.S. government obligations 25 25 Asset-backed securities 19 19 $ 241 241 |