Fair Value Measurement (Tables) |
9 Months Ended |
|---|---|
Sep. 30, 2021 | |
| Fair Value Measurement [Abstract] | |
| Fair Value Hierarchy for Gross Financial Assets and Liabilities | Millions of Dollars September 30, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Investment in CVE shares $ 1,416 - - 1,416 1,256 - - 1,256 Investments in debt securities 6 560 - 566 17 501 - 518 Commodity derivatives 882 788 40 1,710 142 101 12 255 Total $ 2,304 1,348 40 3,692 1,415 602 12 2,029 Liabilities Commodity derivatives $ 893 723 159 1,775 120 91 9 220 Total $ 893 723 159 1,775 120 91 9 220 |
| Commodity Derivative Balances Subject to Right of Setoff | The following table summarizes those presented on our consolidated multiple derivative instruments right of setoff exists. Millions of Dollars Amounts Subject to Right of Setoff Gross Amounts Not Gross Net Amounts Subject to Gross Amounts Amounts Cash Net Recognized Right of Setoff Amounts Offset Presented Collateral Amounts September 30, 2021 Assets $ 1,710 113 1,597 883 714 - 714 Liabilities 1,775 129 1,646 883 763 34 729 December 31, 2020 Assets $ 255 2 253 157 96 10 86 Liabilities 220 1 219 157 62 4 58 At September 30, 2021 and December 31, 2020, we balance sheet where we had the right of setoff. |
| Net Fair Value of Financial Instruments | The following table summarizes the exists for commodity derivatives): Millions of Dollars Carrying Amount Fair Value September 30 December 31 September 30 December 31 2021 2020 2021 2020 Financial assets Investment in CVE shares $ 1,416 1,256 1,416 1,256 Commodity derivatives 827 88 827 88 Investments in debt securities 566 518 566 518 Loans and advances—related parties 114 220 114 220 Financial liabilities Total 18,815 14,478 22,797 19,106 Commodity derivatives 858 59 858 59 |