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Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2012

Derivative Instruments and Hedging Activities [Abstract]

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


Type of Contract		Balance Sheet Classification		At March 31 2012					At December 31 2011
Commodity		Accounts and notes receivable, net			$	113				$	133
Commodity		Long-term receivables, net				79					75

Total Assets at Fair Value					$	192				$	208

Commodity		Accounts payable			$	44				$	36
Commodity		Deferred credits and other noncurrent obligations				84					66

Total Liabilities at Fair Value					$	128				$	102

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


				Gain / (Loss) Three Months Ended March 31
Type of Contract		Statement of Income Classification		2012					2011
Commodity		Sales and other operating revenues			$	(118	)			$	(399	)
Commodity		Purchased crude oil and products				(19	)				4
Commodity		Other income				5					(2	)

					$	(132	)			$	(397	)

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details