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Property, Plant And Equipment And Asset Retirement Obligations (Tables) | 12 Months Ended
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Dec. 31, 2024
Property, Plant And Equipment And Asset Retirement Obligations [Abstract] |
Property, Plant And Equipment |
Property, Plant and Equipment (millions of dollars) | December 31, 2024 |  | December 31, 2023
Cost | Net |  | Cost | Net
Upstream | 423,038 |  | 226,021 |  |  | 359,031 |  | 148,245 |
Energy Products | 58,259 |  | 28,349 |  |  | 57,400 |  | 27,284 |
Chemical Products | 39,224 |  | 19,973 |  |  | 38,801 |  | 20,329 |
Specialty Products | 9,559 |  | 4,229 |  |  | 9,385 |  | 4,378 |
Other | 23,823 |  | 15,746 |  |  | 22,768 |  | 14,704 |
Total | 553,903 |  | 294,318 |  |  | 487,385 |  | 214,940 |
Schedule of Asset Retirement Obligations | The following table summarizes the activity in the liability for asset retirement obligations:
(millions of dollars) |  | 2024 |  | 2023 |  | 2022
Balance at January 1 |  | 12,989 |  |  | 10,491 |  |  | 10,630 |
Accretion expense and other provisions |  | 709 |  |  | 734 |  |  | 744 |
Reduction due to property sales |  | (1,445) |  |  | (288) |  |  | (328) |
Payments made |  | (1,191) |  |  | (693) |  |  | (518) |
Liabilities incurred |  | 533 |  |  | 831 |  |  | 119 |
Foreign currency translation |  | (447) |  |  | 124 |  |  | (330) |
Revisions |  | 884 |  |  | 1,790 |  |  | 174 |
Balance at December 31 |  | 12,032 |  |  | 12,989 |  |  | 10,491 |

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1 + Details
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- Definition Tabular disclosure of the carrying amount of a liability for asset retirement obligations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481850/410-20-50-1 + Details
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