v3.21.1
Inventories
3 Months Ended
Mar. 31, 2021
Inventories [Abstract]  
Inventories
Note 2—Inventories
Inventories consisted of the following:
Millions of Dollars
March 31
 
December 31
2021
2020
Crude oil and natural gas
$
541
461
Materials and supplies
557
541
$
1,098
1,002
Inventories valued on the LIFO basis totaled
 
$
352
 
million and $
282
 
million at March 31, 2021 and December
31, 2020, respectively.