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Asset Retirement Obligations and Accrued Environmental Costs (Tables)
 12 Months Ended
Dec. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations and Accrued Environmental Costs
Asset retirement obligations and accrued environmental costs at December 31 were:
Millions of Dollars
20242023
Asset retirement obligations$8,215 7,227 
Accrued environmental costs206 184 
Total asset retirement obligations and accrued environmental costs8,421 7,411 
Asset retirement obligations and accrued environmental costs due within one year*(332)(191)
Long-term asset retirement obligations and accrued environmental costs$8,089 7,220 
Changes in Asset Retirement Obligation
During 2024 and 2023, our overall ARO changed as follows:
Millions of Dollars
20242023
Balance at January 1$7,227 6,380 
Accretion of discount319 278 
New obligations, including acquisitions926 257 
Changes in estimates of existing obligations140 484 
Spending on existing obligations(182)(119)
Property dispositions(6)(27)
Foreign currency translation(209)(26)
Balance at December 31
$8,215 7,227