Financial and Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2023

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

				At December 31
Type of Contract	Balance Sheet Classification	2023		2022
Commodity	Accounts and notes receivable	$	151	$	175
Commodity	Long-term receivables, net	8		9
Total assets at fair value		$	159	$	184
Commodity	Accounts payable	$	216	$	46
Commodity	Deferred credits and other noncurrent obligations	46		12
Total liabilities at fair value		$	262	$	58

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

Consolidated Statement of Income: The Effect of Derivatives

		Gain/(Loss)
Type of Derivative	Statement of	Year ended December 31
Contract	Income Classification	2023		2022		2021
Commodity	Sales and other operating revenues	$	(304)	$	(651)	$	(685)
Commodity	Purchased crude oil and products	(154)		(226)		(64)
Commodity	Other income (loss)	(47)		10		(46)
		$	(505)	$	(867)	$	(795)

Consolidated Balance Sheet: The Effect of Netting Derivative Assets

The table below represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at December 31, 2023 and 2022.

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

	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Gross Amounts Not Offset		Net Amounts
At December 31, 2023
Derivative Assets - not designated	$	2,394	$	2,242	$	152	$	4	$	148
Derivative Assets - designated	$	8	$	1	$	7	$	—	$	7
Derivative Liabilities - not designated	$	2,504	$	2,242	$	262	$	15	$	247
Derivative Liabilities - designated	$	1	$	1	$	—	$	—	$	—
At December 31, 2022
Derivative Assets - not designated	$	2,591	$	2,407	$	184	$	5	$	179
Derivative Assets - designated	$	8	$	8	$	—	$	—	$	—
Derivative Liabilities - not designated	$	2,450	$	2,407	$	43	$	—	$	43
Derivative Liabilities - designated	$	23	$	8	$	15	$	—	$	15

Consolidated Balance Sheet: The Effect of Netting Derivative Liabilities

The table below represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at December 31, 2023 and 2022.

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

	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Gross Amounts Not Offset		Net Amounts
At December 31, 2023
Derivative Assets - not designated	$	2,394	$	2,242	$	152	$	4	$	148
Derivative Assets - designated	$	8	$	1	$	7	$	—	$	7
Derivative Liabilities - not designated	$	2,504	$	2,242	$	262	$	15	$	247
Derivative Liabilities - designated	$	1	$	1	$	—	$	—	$	—
At December 31, 2022
Derivative Assets - not designated	$	2,591	$	2,407	$	184	$	5	$	179
Derivative Assets - designated	$	8	$	8	$	—	$	—	$	—
Derivative Liabilities - not designated	$	2,450	$	2,407	$	43	$	—	$	43
Derivative Liabilities - designated	$	23	$	8	$	15	$	—	$	15