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Inventories

12 Months Ended

Dec. 31, 2024

Classes of current inventories [abstract]



14. INVENTORIES


As at December 31,	2024	2023
Product
Crude Oil	2,297	2,084
Diluent	401	379
Natural Gas and NGLs	77	68
Refined Products	1,176	1,073

Total Product	3,951	3,604
Parts and Supplies	545	426
	4,496	4,030

For the year ended December 31, 2024, approximately $42.8 billion of produced and purchased inventory was recorded as an expense (2023 – approximately $39.1 billion).

As at December 31, 2024, the Company had no inventory write-downs. As at December 31, 2023, the Company recorded non-cash inventory write-downs of $86 million and $3 million in refined products and crude oil inventory, respectively. The non-cash inventory write-downs were included in purchased product, transportation and blending expense.