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Inventories

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventories

Note 2—Inventories

Inventories at December 31 were:

			Millions of Dollars
			2022			2021
Crude oil and natural gas			$	641		647
Materials and supplies			578			561
Total inventories			$	1,219		1,208
Inventories valued on the LIFO basis			$	396		395

The estimated excess of current replacement cost over LIFO cost of inventories was approximately $149 million and $251 million at December 31, 2022 and 2021, respectively.

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- References

No definition available.

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI https://asc.fasb.org/topic&trid=2126998

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