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Segment Disclosures and Related Information (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Reconciliation of Revenue from Segments to Consolidated |
Three Months Ended September 30, 2025 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Segment sales and other operating revenues |  |  |  |  |  |  |  |
Sales and other operating revenues | $ | 1,443 |  | 10,541 |  | 1,414 |  | 1,578 |  | 515 |  | — |  | 24 |  | 15,515 |
Intersegment eliminations | — |  | (3) |  | (473) |  | — |  | — |  | — |  | (8) |  | (484) |
Consolidated sales and other operating revenues | 1,443 |  | 10,538 |  | 941 |  | 1,578 |  | 515 |  | — |  | 16 |  | 15,031 |
Significant segment expenses* |  |  |  |  |  |  |  |
Production and operating expenses | 564 |  | 1,434 |  | 218 |  | 213 |  | 101 |  | — |  | 102 |  | 2,632 |
DD&A | 327 |  | 2,079 |  | 142 |  | 245 |  | 113 |  | — |  | 11 |  | 2,917 |
Income tax provision (benefit) | 61 |  | 345 |  | 60 |  | 676 |  | 89 |  | — |  | (29) |  | 1,202 |
Total | 952 |  | 3,858 |  | 420 |  | 1,134 |  | 303 |  | — |  | 84 |  | 6,751 |
Other segment items |  |  |  |  |  |  |  |
Equity in earnings of affiliates | — |  | (3) |  | — |  | (157) |  | (194) |  | — |  | 9 |  | (345) |
Interest income | — |  | — |  | — |  | — |  | (2) |  | — |  | (60) |  | (62) |
Interest and debt expense | — |  | — |  | — |  | — |  | — |  | — |  | 223 |  | 223 |
Other** | 361 |  | 5,443 |  | 333 |  | 274 |  | 99 |  | (4) |  | 232 |  | 6,738 |
Total | 361 |  | 5,440 |  | 333 |  | 117 |  | (97) |  | (4) |  | 404 |  | 6,554 |
Net income (loss) | $ | 130 |  | 1,240 |  | 188 |  | 327 |  | 309 |  | 4 |  | (472) |  | 1,726 |
*The significant segment expense categories and amounts in the table above align with segment-level information that is regularly provided to the CODM.
**Other segment items not required to be separately disclosed for each reportable segment include:
Gain (loss) on dispositions: L48, OI and Corporate
Other income and Selling, general and administrative expenses: L48, Canada, EMENA, AP, OI and Corporate
Purchased commodities: Alaska, L48, Canada, EMENA and AP
Exploration expenses, Taxes other than income taxes and Accretion on discounted liabilities: Alaska, L48, Canada, EMENA, AP and Corporate
Impairments: L48
Foreign currency transaction (gain) loss: Canada, AP and Corporate
Other expenses: Alaska, L48, EMENA and Corporate
Three Months Ended September 30, 2024 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Segment sales and other operating revenues |  |  |  |  |  |  |  |
Sales and other operating revenues | $ | 1,481 |  | 9,080 |  | 1,139 |  | 1,337 |  | 478 |  | — |  | 16 |  | 13,531 |
Intersegment eliminations | — |  | — |  | (479) |  | — |  | — |  | — |  | (11) |  | (490) |
Consolidated sales and other operating revenues | 1,481 |  | 9,080 |  | 660 |  | 1,337 |  | 478 |  | — |  | 5 |  | 13,041 |
Significant segment expenses* |  |  |  |  |  |  |  |
Production and operating expenses | 520 |  | 1,180 |  | 269 |  | 154 |  | 110 |  | — |  | 28 |  | 2,261 |
DD&A | 309 |  | 1,640 |  | 147 |  | 189 |  | 97 |  | — |  | 8 |  | 2,390 |
Income tax provision (benefit) | 103 |  | 347 |  | 10 |  | 678 |  | 73 |  | — |  | (35) |  | 1,176 |
Total | 932 |  | 3,167 |  | 426 |  | 1,021 |  | 280 |  | — |  | 1 |  | 5,827 |
Other segment items |  |  |  |  |  |  |  |
Equity in earnings of affiliates | 1 |  | — |  | — |  | (154) |  | (290) |  | — |  | 2 |  | (441) |
Interest income | — |  | — |  | — |  | — |  | (2) |  | — |  | (105) |  | (107) |
Interest and debt expense | — |  | — |  | — |  | — |  | — |  | — |  | 189 |  | 189 |
Other** | 281 |  | 4,672 |  | 209 |  | 172 |  | 35 |  | (1) |  | 146 |  | 5,514 |
Total | 282 |  | 4,672 |  | 209 |  | 18 |  | (257) |  | (1) |  | 232 |  | 5,155 |
Net income (loss) | $ | 267 |  | 1,241 |  | 25 |  | 298 |  | 455 |  | 1 |  | (228) |  | 2,059 |
*The significant segment expense categories and amounts in the table above align with segment-level information that is regularly provided to the CODM.
**Other segment items not required to be separately disclosed for each reportable segment include:
Gain (loss) on dispositions: L48 and OI
Other income: Alaska, L48, Canada, OI and Corporate
Purchased commodities: Alaska, L48, Canada, EMENA and AP
Selling, general and administrative expenses and Exploration Expenses: Alaska, L48, Canada, EMENA, AP, OI and Corporate
Taxes other than income taxes and Accretion on discounted liabilities: Alaska, L48, Canada, EMENA, AP and Corporate
Foreign currency transaction (gain) loss: Canada, EMENA, AP and Corporate
Other expenses: L48, EMENA and Corporate
Nine Months Ended September 30, 2025 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Segment sales and other operating revenues |  |  |  |  |  |  |  |
Sales and other operating revenues | $ | 4,368 |  | 32,055 |  | 4,280 |  | 4,918 |  | 1,410 |  | — |  | 56 |  | 47,087 |
Intersegment eliminations | — |  | (6) |  | (1,506) |  | — |  | — |  | — |  | (23) |  | (1,535) |
Consolidated sales and other operating revenues | 4,368 |  | 32,049 |  | 2,774 |  | 4,918 |  | 1,410 |  | — |  | 33 |  | 45,552 |
Significant segment expenses* |  |  |  |  |  |  |  |
Production and operating expenses | 1,616 |  | 4,399 |  | 635 |  | 669 |  | 251 |  | — |  | 140 |  | 7,710 |
DD&A | 1,043 |  | 5,986 |  | 416 |  | 662 |  | 350 |  | — |  | 44 |  | 8,501 |
Income tax provision (benefit) | 247 |  | 1,175 |  | 191 |  | 2,191 |  | 220 |  | — |  | (159) |  | 3,865 |
Total | 2,906 |  | 11,560 |  | 1,242 |  | 3,522 |  | 821 |  | — |  | 25 |  | 20,076 |
Other segment items |  |  |  |  |  |  |  |
Equity in earnings of affiliates | — |  | (11) |  | — |  | (445) |  | (585) |  | — |  | (11) |  | (1,052) |
Interest income | — |  | — |  | — |  | — |  | (6) |  | — |  | (199) |  | (205) |
Interest and debt expense | — |  | — |  | — |  | — |  | — |  | — |  | 660 |  | 660 |
Other** | 870 |  | 16,071 |  | 939 |  | 858 |  | 230 |  | (7) |  | 566 |  | 19,527 |
Total | 870 |  | 16,060 |  | 939 |  | 413 |  | (361) |  | (7) |  | 1,016 |  | 18,930 |
Net income (loss) | $ | 592 |  | 4,429 |  | 593 |  | 983 |  | 950 |  | 7 |  | (1,008) |  | 6,546 |
*The significant segment expense categories and amounts in the table above align with segment-level information that is regularly provided to the CODM.
**Other segment items not required to be separately disclosed for each reportable segment include:
Gain (loss) on dispositions: L48, OI and Corporate
Other income: L48, Canada, EMENA, AP, OI and Corporate
Purchased commodities: Alaska, L48, Canada, EMENA and AP
Selling, general and administrative expenses: Alaska, L48, Canada, EMENA, AP, OI and Corporate
Exploration expenses, Taxes other than income taxes and Accretion on discounted liabilities: Alaska, L48, Canada, EMENA, AP and Corporate
Impairments: L48 and EMENA
Foreign currency transaction (gain) loss: Canada, EMENA, AP and Corporate
Other expenses: Alaska, L48, EMENA and Corporate
Nine Months Ended September 30, 2024 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Segment sales and other operating revenues |  |  |  |  |  |  |  |
Sales and other operating revenues | $ | 4,934 |  | 27,442 |  | 4,136 |  | 4,090 |  | 1,495 |  | — |  | 40 |  | 42,137 |
Intersegment eliminations | — |  | (1) |  | (1,599) |  | — |  | — |  | — |  | (28) |  | (1,628) |
Consolidated sales and other operating revenues | 4,934 |  | 27,441 |  | 2,537 |  | 4,090 |  | 1,495 |  | — |  | 12 |  | 40,509 |
Significant segment expenses* |  |  |  |  |  |  |  |
Production and operating expenses | 1,489 |  | 3,420 |  | 709 |  | 471 |  | 281 |  | — |  | 70 |  | 6,440 |
DD&A | 954 |  | 4,629 |  | 471 |  | 544 |  | 314 |  | — |  | 23 |  | 6,935 |
Income tax provision (benefit) | 360 |  | 1,099 |  | 152 |  | 2,121 |  | 173 |  | — |  | (142) |  | 3,763 |
Total | 2,803 |  | 9,148 |  | 1,332 |  | 3,136 |  | 768 |  | — |  | (49) |  | 17,138 |
Other segment items |  |  |  |  |  |  |  |
Equity in earnings of affiliates | 1 |  | — |  | — |  | (431) |  | (840) |  | — |  | 5 |  | (1,265) |
Interest income | — |  | — |  | — |  | — |  | (6) |  | — |  | (301) |  | (307) |
Interest and debt expense | — |  | — |  | — |  | — |  | — |  | — |  | 592 |  | 592 |
Other** | 1,157 |  | 14,412 |  | 739 |  | 532 |  | 162 |  | (3) |  | 413 |  | 17,412 |
Total | 1,158 |  | 14,412 |  | 739 |  | 101 |  | (684) |  | (3) |  | 709 |  | 16,432 |
Net income (Loss) | $ | 973 |  | 3,881 |  | 466 |  | 853 |  | 1,411 |  | 3 |  | (648) |  | 6,939 |
*The significant segment expense categories and amounts in the table above align with segment-level information that is regularly provided to the CODM.
**Other segment items not required to be separately disclosed for each reportable segment include:
Gain (loss) on dispositions: L48 and OI
Other income, Selling, general and administrative expenses and Exploration expenses: Alaska, L48, Canada, EMENA, AP, OI and Corporate
Purchased commodities: Alaska, L48, Canada, EMENA and AP
Impairments: Alaska and L48
Taxes other than income taxes and Accretion on discounted liabilities: Alaska, L48, Canada, EMENA, AP and Corporate
Foreign currency transaction (gain) loss: Canada, EMENA, AP and Corporate
Other expenses: Alaska, L48, EMENA and Corporate
Segment, Reconciliation of Other Items from Segments to Consolidated |
Three Months Ended September 30, 2025 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Investment in and advances to affiliates | $ | 3 |  | 127 |  | — |  | 2,163 |  | 4,820 |  | — |  | 1,624 |  | 8,737 |
Total assets | 19,736 |  | 64,387 |  | 9,801 |  | 10,405 |  | 8,052 |  | — |  | 10,091 |  | 122,472 |
Capital expenditures and investments | 753 |  | 1,571 |  | 152 |  | 293 |  | 70 |  | — |  | 27 |  | 2,866 |
Three Months Ended September 30, 2024 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Investment in and advances to affiliates | $ | 33 |  | 121 |  | — |  | 1,335 |  | 4,993 |  | 7 |  | 1,502 |  | 7,991 |
Total assets | 17,401 |  | 42,346 |  | 10,072 |  | 8,161 |  | 8,323 |  | 6 |  | 10,390 |  | 96,699 |
Capital expenditures and investments | 691 |  | 1,653 |  | 136 |  | 248 |  | 100 |  | — |  | 88 |  | 2,916 |
Nine Months Ended September 30, 2025 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Investment in and advances to affiliates | $ | 3 |  | 127 |  | — |  | 2,163 |  | 4,820 |  | — |  | 1,624 |  | 8,737 |
Total assets | 19,736 |  | 64,387 |  | 9,801 |  | 10,405 |  | 8,052 |  | — |  | 10,091 |  | 122,472 |
Capital expenditures and investments | 2,785 |  | 5,089 |  | 461 |  | 923 |  | 188 |  | — |  | 84 |  | 9,530 |
Nine Months Ended September 30, 2024 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Investment in and advances to affiliates | $ | 33 |  | 121 |  | — |  | 1,335 |  | 4,993 |  | 7 |  | 1,502 |  | 7,991 |
Total assets | 17,401 |  | 42,346 |  | 10,072 |  | 8,161 |  | 8,323 |  | 6 |  | 10,390 |  | 96,699 |
Capital expenditures and investments | 2,102 |  | 4,918 |  | 419 |  | 694 |  | 235 |  | — |  | 433 |  | 8,801 |
Schedule of Operating Segment Reporting by Geographic Location |
| Millions of Dollars
| Three Months Ended September 30 | Nine Months Ended September 30
| 2025 | 2024 | 2025 | 2024
Sales and Other Operating Revenues by Geographic Location* |  |  |
U.S. | $ | 11,887 |  | 10,445 |  | 36,136 |  | 32,201 |
Canada | 798 |  | 660 |  | 2,487 |  | 2,537 |
China | 228 |  | 261 |  | 683 |  | 749 |
Equatorial Guinea | 21 |  | — |  | 377 |  | — |
Libya | 434 |  | 307 |  | 1,350 |  | 1,277 |
Malaysia | 201 |  | 217 |  | 604 |  | 746 |
Norway | 460 |  | 640 |  | 1,494 |  | 1,778 |
Singapore | 327 |  | — |  | 508 |  | — |
U.K. | 673 |  | 510 |  | 1,909 |  | 1,217 |
Other foreign countries | 2 |  | 1 |  | 4 |  | 4 |
Worldwide consolidated | $ | 15,031 |  | 13,041 |  | 45,552 |  | 40,509 |
Sales and Other Operating Revenues by Product |  |  |  |
Crude oil | $ | 10,010 |  | 9,806 |  | 30,371 |  | 29,480 |
Natural gas | 2,020 |  | 1,290 |  | 6,782 |  | 4,346 |
Natural gas liquids | 886 |  | 693 |  | 2,879 |  | 2,035 |
Other** | 2,115 |  | 1,252 |  | 5,520 |  | 4,648 |
Consolidated sales and other operating revenues by product | $ | 15,031 |  | 13,041 |  | 45,552 |  | 40,509 |
*Sales and other operating revenues are attributable to countries based on the location of the selling operation. **Includes bitumen, power and LNG.

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