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Sales and Other Operating Revenues (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Revenue from Contracts with Customers
The following table provides further disaggregation of our consolidated sales and other operating revenues:
Millions of Dollars
202420232022
Revenue from contracts with customers$49,418 48,522 61,049 
Revenue from contracts outside the scope of ASC Topic 606
Physical contracts meeting the definition of a derivative5,483 8,203 17,150 
Financial derivative contracts(156)(584)295 
Consolidated sales and other operating revenues$54,745 56,141 78,494 
Revenues from contracts outside the scope of ASC Topic 606 relate primarily to physical gas contracts at market prices, which qualify as derivatives accounted for under ASC Topic 815, “Derivatives and Hedging,” and for which we have not elected NPNS. There is no significant difference in contractual terms or the policy for recognition of revenue from these contracts and those within the scope of ASC Topic 606. The following disaggregation of revenues is provided in conjunction with Note 23—Segment Disclosures and Related Information:
Millions of Dollars
202420232022
Revenue from Contracts Outside the Scope of ASC Topic 606
by Segment
Lower 48$4,174 6,607 13,919 
Canada522 1,248 2,717 
Europe, Middle East and North Africa787 348 514 
Physical contracts meeting the definition of a derivative$5,483 8,203 17,150 
Millions of Dollars
202420232022
Revenue from Contracts Outside the Scope of ASC Topic 606
by Product
Crude oil$376 143 495 
Natural gas3,753 6,622 15,368 
Other1,354 1,438 1,287 
Physical contracts meeting the definition of a derivative$5,483 8,203 17,150