Financial and Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments

Consolidated Balance Sheet: Fair Value of Derivatives Not Designated as Hedging Instruments

				At December 31
Type of Contract	Balance Sheet Classification	2016		2015
Commodity	Accounts and notes receivable, net	$	30	$	200
Commodity	Long-term receivables, net	2		5
Total assets at fair value		$	32	$	205
Commodity	Accounts payable	$	99	$	51
Commodity	Deferred credits and other noncurrent obligations	10		2
Total liabilities at fair value		$	109	$	53

Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments

Consolidated Statement of Income: The Effect of Derivatives Not Designated as Hedging Instruments

		Gain/(Loss)
Type of Derivative	Statement of	Year ended December 31
Contract	Income Classification	2016			2015			2014
Commodity	Sales and other operating revenues	$	(269	)	$	277		$	553
Commodity	Purchased crude oil and products	(31		)	30			(17		)
Commodity	Other income	—			(3		)	(32		)
		$	(300	)	$	304		$	504

Consolidated Balance Sheet: The Effect of Netting Derivative Assets

The table on the following page represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at December 31, 2016 and December 31, 2015.

Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities

	Gross Amount Recognized		Gross Amounts Offset		Net Amounts Presented		Gross Amounts Not Offset		Net Amount
At December 31, 2016
Derivative Assets	$	1,052	$	1,020	$	32	$	—	$	32
Derivative Liabilities	$	1,129	$	1,020	$	109	$	—	$	109
At December 31, 2015
Derivative Assets	$	2,459	$	2,254	$	205	$	—	$	205
Derivative Liabilities	$	2,307	$	2,254	$	53	$	—	$	53

Consolidated Balance Sheet: The Effect of Netting Derivative Liabilities

The table on the following page represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at December 31, 2016 and December 31, 2015.

Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities

	Gross Amount Recognized		Gross Amounts Offset		Net Amounts Presented		Gross Amounts Not Offset		Net Amount
At December 31, 2016
Derivative Assets	$	1,052	$	1,020	$	32	$	—	$	32
Derivative Liabilities	$	1,129	$	1,020	$	109	$	—	$	109
At December 31, 2015
Derivative Assets	$	2,459	$	2,254	$	205	$	—	$	205
Derivative Liabilities	$	2,307	$	2,254	$	53	$	—	$	53