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Financial and Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2021

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			2021									2020
Commodity			Accounts and notes receivable, net			$	251								$	73
Commodity			Long-term receivables, net			62									1
Total assets at fair value						$	313								$	74
Commodity			Accounts payable			$	71								$	172
Commodity			Deferred credits and other noncurrent obligations			1									1
Total liabilities at fair value						$	72								$	173

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			2021									2020						2019
Commodity			Sales and other operating revenues			$	(685)								$	69					$	(291)
Commodity			Purchased crude oil and products			(64)									(36)						(17)
Commodity			Other income			(46)									7						(2)
						$	(795)								$	40					$	(310)

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, 2021 and December 31, 2020.

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, 2021
Derivative Assets - not designated						$	1,684					$	1,371					$	313					$	—					$	313
Derivative Liabilities - not designated						$	1,443					$	1,371					$	72					$	—					$	72
At December 31, 2020
Derivative Assets - not designated						$	818					$	744					$	74					$	—					$	74
Derivative Liabilities - not designated						$	917					$	744					$	173					$	—					$	173

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, 2021 and December 31, 2020.

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, 2021
Derivative Assets - not designated						$	1,684					$	1,371					$	313					$	—					$	313
Derivative Liabilities - not designated						$	1,443					$	1,371					$	72					$	—					$	72
At December 31, 2020
Derivative Assets - not designated						$	818					$	744					$	74					$	—					$	74
Derivative Liabilities - not designated						$	917					$	744					$	173					$	—					$	173

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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.

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