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Related Party Transactions
 9 Months Ended
Sep. 30, 2016
Related Party Transactions [Abstract]  
Related Party Transactions
Related Party Transactions
 
See Note 14 to our Consolidated Financial Statements included in Part IV of our 2015 Annual Report on Form 10-K for a complete discussion of our related party transactions.
 
Transactions with Oxy
 
As of September 30, 2016, Oxy owned approximately 12% of the limited partner interests in our general partner and had a representative on the board of directors of GP LLC. During the three and nine months ended September 30, 2016 and 2015, we recognized sales and transportation revenues and purchased petroleum products from Oxy. These transactions were conducted at posted tariff rates or prices that we believe approximate market. Included in these transactions was a crude oil buy/sell agreement that includes a multi-year minimum volume commitment. The impact to our Condensed Consolidated Statements of Operations from those transactions is included below (in millions):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2016
 
2015
 
2016
 
2015
Revenues
$
171

 
$
187

 
$
424

 
$
745

 
 
 
 
 
 
 
 
Purchases and related costs (1)
$
4

 
$
(34
)
 
$
(46
)
 
$
112

___________________________________________
(1) 
Purchases and related costs include crude oil buy/sell transactions that are accounted for as inventory exchanges and are presented net in our Condensed Consolidated Statements of Operations.
 
We currently have a netting arrangement with Oxy. Our gross receivable and payable amounts with Oxy were as follows (in millions):
 
September 30,
2016
 
December 31, 2015
Trade accounts receivable and other receivables
$
610

 
$
405

 
 
 
 
Accounts payable
$
587

 
$
363