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Related Party Disclosures

12 Months Ended

Dec. 31, 2023

Related Party Disclosures

Related Party Disclosures

31. Related Party Disclosures

Related Party Transactions

The company enters into transactions with related parties in the normal course of business, which includes purchases of feedstock, distribution of refined products, and the sale of refined products and byproducts. These transactions are with joint ventures and associated entities in the company’s Refining and Marketing operations, including pipeline, refined product and petrochemical companies. A summary of the significant related party transactions as at and for the years ended December 31, 2023 and 2022 are as follows:


($ millions)		2023		2022
Sales⁽¹⁾		1 356		1 616
Purchases		139		265
Accounts receivable		108		135
Accounts payable and accrued liabilities		3		69

(1)	Includes sales to Petroles Cadeko Inc. of $585 million (2022 - $645 million) and Parachem Chemicals Inc. of $400 million (2022 – $487 million).

Compensation of Key Management Personnel

Compensation of the company’s Board of Directors and members of the Executive Leadership Team for the years ended December 31 is as follows:


($ millions)		2023		2022
Salaries and other short-term benefits		10		20
Pension and other post-retirement benefits		3		4
Share based compensation		46		73
		59		97