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Inventories

12 Months Ended

Dec. 31, 2024

Classes of current inventories [abstract]

Inventories

D.3 Inventories

		2024 US$m				2023 US$m
(a) Inventories (current)
Petroleum products
Goods in transit			85				41
Finished stocks			135				93
Warehouse stores and materials			457				476
Carbon credits			7				6
			684				616
(b) Inventories (non-current)
Warehouse stores and materials			18				3
Carbon credits			195				117
			213				120

Recognition and measurement

Inventories include hydrocarbon stocks, consumable supplies, maintenance spares and carbon credits expected to be utilised to offset future emissions. Inventories are valued at the lower of cost and net realisable value. Cost is determined on a weighted average basis and includes direct costs and an appropriate portion of fixed and variable production overheads where applicable. Inventories determined to be obsolete or damaged are written down to net realisable value, being the estimated selling price less selling costs.

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- Definition

The entire disclosure for inventories.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Number 2
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-URIDate 2024-03-27

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