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v3.25.1

Properties, Plants and Equipment | 3 Months Ended
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Mar. 31, 2025
Property, Plant and Equipment [Abstract] |
Properties, Plants and Equipment | Properties, Plants and Equipment Our investment in PP&E and the associated accumulated depreciation and amortization (Accum. D&A) balances were as follows:
| Millions of Dollars
| March 31, 2025 |  | December 31, 2024
| Gross PP&E |  | Accum. D&A |  | Net PP&E |  | Gross PP&E |  | Accum. D&A |  | Net PP&E
Midstream | $ | 26,342 |  |  | 5,003 |  |  | 21,339 |  |  | 26,187 |  |  | 4,820 |  |  | 21,367 |
Chemicals | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Refining | 22,527 |  |  | 12,437 |  |  | 10,090 |  |  | 22,274 |  |  | 11,991 |  |  | 10,283 |
Marketing and Specialties | 2,138 |  |  | 1,307 |  |  | 831 |  |  | 2,091 |  |  | 1,267 |  |  | 824 |
Renewable Fuels | 3,725 |  |  | 1,692 |  |  | 2,033 |  |  | 3,716 |  |  | 1,669 |  |  | 2,047 |
Corporate and Other | 1,676 |  |  | 1,003 |  |  | 673 |  |  | 1,688 |  |  | 945 |  |  | 743 |
| $ | 56,408 |  |  | 21,442 |  |  | 34,966 |  |  | 55,956 |  |  | 20,692 |  |  | 35,264 |
See Note 2—Restructuring, for information regarding our intention to cease operations at our Los Angeles Refinery. See Note 9—Impairments, for information regarding PP&E impairments.

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