Summary of Material Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Summary of Material Accounting Policies

Schedule of expected useful lives for property, plant and equipment

Major components of Property, Plant and Equipment are depreciated on a straight line basis over their expected useful lives.

Oil sands upgraders, extraction plants and mine facilities	10 to 40 years
Oil sands mine equipment	5 to 15 years
Oil sands in situ processing facilities	30 to 40 years
Power generation and utility plants	20 to 40 years
Refineries and other processing plants	20 to 40 years
Marketing and other distribution assets	10 to 40 years

The costs of major inspection, overhaul and turnaround activities that are capitalized are depreciated on a straight line basis over the period to the next scheduled activity, which varies from two to five years.