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Significant accounting policies, judgements, estimates and assumptions (Tables)
 12 Months Ended
Dec. 31, 2023
Corporate information and statement of IFRS compliance [abstract]  
Summary of typical useful lives of other property, plant and equipment
Other property, plant and equipment is depreciated on a straight-line basis over its expected useful life. The typical useful lives of the group’s other property, plant and equipment on initial recognition are as follows:
Land improvements
15 to 25 years
Buildings
20 to 50 years
Refineries
20 to 30 years
Pipelines
10 to 50 years
Service stations
15 years
Office equipment
3 to 10 years
Fixtures and fittings
5 to 15 years
$ million
Land and land improvementsBuildings
Oil and gas propertiesa c
Plant, machinery and equipment
Fittings, fixtures and office equipmentc
TransportationOil depots, storage tanks and service stationsTotal
Cost - owned PP&E
At 1 January 2023
3,513 950 179,028 44,662 2,202 3,076 10,089 243,520 
Exchange adjustments112 2 — 294 31 2 342 783 
Additions134 48 8,252 2,921 221 80 1,126 12,782 
Acquisitions206 — — 27 12 48 1,060 1,353 
Transfers from intangible assets— — 171 — — — — 171 
Reclassified as assets held for sale(7)— — (3)(3)(1)(74)(88)
Deletions and disposals(34)(8)(2,105)(517)(173)(247)(319)(3,403)
At 31 December 20233,924 992 185,346 47,384 2,290 2,958 12,224 255,118 
Depreciation - owned PP&E
At 1 January 2023
700 501 111,434 22,903 1,671 2,431 5,819 145,459 
Exchange adjustments14 3 — 200 18 2 206 443 
Charge for the year45 30 10,468 1,519 163 85 629 12,939 
Impairment losses108 22 3,628 1,467 — 10 58 5,293 
Impairment reversals— — (18)— — (9)— (27)
Reclassified as assets held for sale(1)— — (2)(1)(1)(74)(79)
Deletions and disposals(28)(3)(2,070)(416)(167)(226)(275)(3,185)
At 31 December 2023838 553 123,442 25,671 1,684 2,292 6,363 160,843 
Owned PP&E - net book amount at 31 December 20233,086 439 61,904 21,713 606 666 5,861 94,275 
Right-of-use assets - net book amount at 31 December 2023b
— 1,243 53 916 4 2,463 5,765 10,444 
Total PP&E - net book amount at 31 December 20233,086 1,682 61,957 22,629 610 3,129 11,626 104,719 
Cost - owned PP&E
At 1 January 2022c
3,713 1,245 208,778 44,037 2,213 3,033 10,241 273,260 
Exchange adjustments(184)(30)— (599)(83)(14)(590)(1,500)
Additions51 31 6,221 2,188 252 42 993 9,778 
Acquisitions1 40 — 998 — 37 3 1,079 
Transfers from intangible assets— — 357 — — — — 357 
Reclassified as assets held for sale(49)— (4,351)(1,408)— — — (5,808)
Deletions and disposals(19)(336)(31,977)(554)(180)(22)(558)(33,646)
At 31 December 20223,513 950 179,028 44,662 2,202 3,076 10,089 243,520 
Depreciation - owned PP&E
At 1 January 2022c
706 654 135,294 21,841 1,774 2,388 5,783 168,440 
Exchange adjustments(26)(21)— (299)(61)(11)(354)(772)
Charge for the year47 26 9,770 1,457 135 72 501 12,008 
Impairment losses6 14 1,251 1,487 — 4 336 3,098 
Impairment reversals— — (2,221)(65)— (5)— (2,291)
Reclassified as assets held for sale(18)— (3,972)(1,164)— — — (5,154)
Deletions and disposals(15)(172)(28,688)(354)(177)(17)(447)(29,870)
At 31 December 2022700 501 111,434 22,903 1,671 2,431 5,819 145,459 
Owned PP&E - net book amount at 31 December 20222,813 449 67,594 21,759 531 645 4,270 98,061 
Right-of-use assets - net book amount at 31 December 2022b
— 1,157 17 926 7 2,333 3,543 7,983 
Total PP&E - net book amount at 31 December 20222,813 1,606 67,611 22,685 538 2,978 7,813 106,044 
Assets under construction included above
At 31 December 202313,390 
At 31 December 202222,313 
Depreciation charge for the year on right-of-use assets
2023196 16 558 5 1,055 783 2,613 
2022190 18 321 10 853 577 1,969 
aFor information on significant estimates and judgements made in relation to the estimation of oil and natural reserves see Property, plant and equipment within Note 1.
b$661 million (2022 $560 million) of drilling rig right-of-use assets and $2,337 million (2022 $2,208 million) of shipping vessel right-of-use assets are included in Plant, machinery and equipment and Transportation respectively.
cAn amendment has been made to prior year balances to correctly present offsetting movements in oil and gas properties (an increase of $744 million) and fittings, fixtures and office equipment (a decrease of $18 million) cost and depreciation. The amendment has no impact on reported profit or net book amounts of PPE.
Summary of long-term price assumptions used in impairment testing
2023 price assumptions20242025203020402050
Brent oil ($/bbl)7070706350
Henry Hub gas ($/mmBtu)4.004.004.004.004.00
2022 price assumptions20232025203020402050
Brent oil ($/bbl)7871715946
Henry Hub gas ($/mmBtu)4.084.084.083.573.57