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Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Basis of Presentation and Summary of Significant Accounting Policies

Schedule of sets out exchange rates for the translation of the Euro and U.S. dollar

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​	​	​	​	​
​		EUR		US$
Closing rate at December 31, 2022		1.4458		1.3544
Average rate for the year 2022	​	1.3696	​	1.3013
Closing rate at December 31, 2021	​	1.4391	​	1.2678
Average rate for the year 2021		1.4828		1.2535
Closing rate at December 31, 2020		1.5608		1.2732
Average rate for the year 2020		1.5298		1.3415

​

Schedule of estimated useful lives and methods of property, plant and equipment

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​	​	​	​	​
​		Lives		Method
Processing plant and equipment		5 to 20 years		straight-line
Refinery and power plants		20 to 30 years		straight-line
Office equipment and other		3 to 10 years		straight-line
Office premises		2 to 10 years		straight-line

​

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The entire disclosure for the effect of changes in foreign exchange rates.

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