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Financial instruments: fair value measurement and sensitivity analysis of market risk (Tables) | 12 Months Ended
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Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract] |
Disclosure of financial assets [text block] |
(in USD million) | Note | Amortised cost | Fair value through profit or loss | Non-financial assets | Total carrying amount
At 31 December 2019 |  |  |  |  |
Assets |  |  |  |  |
Non-current derivative financial instruments |  | - | 1,365 | - | 1,365
Non-current financial investments | 13 | 167 | 3,433 | - | 3,600
Prepayments and financial receivables | 13 | 1,057 | - | 157 | 1,214
Trade and other receivables | 15 | 7,374 | - | 859 | 8,233
Current derivative financial instruments |  | - | 578 | - | 578
Current financial investments | 13 | 7,050 | 377 | - | 7,426
Cash and cash equivalents | 16 | 4,478 | 700 | - | 5,177
Total |  | 20,125 | 6,452 | 1,016 | 27,593
(in USD million) | Note | Amortised cost | Fair value through profit or loss | Non-financial assets | Total carrying amount
At 31 December 2018 |  |  |  |  |
Assets |  |  |  |  |
Non-current derivative financial instruments |  | - | 1,032 | - | 1,032
Non-current financial investments | 13 | 90 | 2,365 | - | 2,455
Prepayments and financial receivables | 13 | 854 | - | 179 | 1,033
Trade and other receivables | 15 | 8,488 | - | 510 | 8,998
Current derivative financial instruments |  | - | 318 | - | 318
Current financial investments | 13 | 6,145 | 896 | - | 7,041
Cash and cash equivalents | 16 | 5,301 | 2,255 | - | 7,556
Total |  | 20,878 | 6,866 | 689 | 28,433
Disclosure of financial liabilities [text block] |
(in USD million) | Note | Amortised cost | Fair value through profit or loss | Non-financial liabilities | Total carrying amount
At 31 December 2019 |  |  |  |  |
Liabilities |  |  |  |  |
Non-current finance debt | 18, 22 | 21,754 | - | 3,191 | 24,945
Non-current derivative financial instruments |  | - | 1,173 | - | 1,173
Trade, other payables and provisions | 21 | 9,027 | - | 1,423 | 10,450
Current finance debt | 18, 22 | 2,939 | - | 1,148 | 4,087
Dividend payable |  | 859 | - | - | 859
Current derivative financial instruments |  | - | 462 | - | 462
Total |  | 34,580 | 1,635 | 5,762 | 41,976
(in USD million) | Note | Amortised cost | Fair value through profit or loss | Non-financial liabilities | Total carrying amount
At 31 December 2018 |  |  |  |  |
Liabilities |  |  |  |  |
Non-current finance debt | 18, 22 | 23,264 | - | - | 23,264
Non-current derivative financial instruments |  | - | 1,207 | - | 1,207
Trade, other payables and provisions | 21 | 8,115 | - | 255 | 8,369
Current finance debt | 18, 22 | 2,463 | - | - | 2,463
Dividend payable |  | 766 | - | - | 766
Current derivative financial instruments |  | - | 352 | - | 352
Total |  | 34,608 | 1,559 | 255 | 36,422
Disclosure of fair value measurement [text block] |
(in USD million) | Non-current financial investments | Non-current derivative financial instruments - assets | Current financial investments | Current derivative financial instruments - assets | Cash equivalents | Non-current derivative financial instruments - liabilities | Current derivative financial instruments - liabilities | Net fair value
At 31 December 2019 |  |  |  |  |  |  |  |
Level 1 | 1,456 | 7 | - | 86 | - | (6) | (70) | 1,473
Level 2 | 1,700 | 1,139 | 377 | 461 | 700 | (1,148) | (394) | 2,835
Level 3 | 277 | 219 | - | 33 | - | (19) | - | 510
Total fair value | 3,433 | 1,365 | 377 | 578 | 700 | (1,173) | (462) | 4,817
At 31 December 2018 |  |  |  |  |  |  |  |
Level 1 | 1,088 | - | 365 | - | - | - | - | 1,453
Level 2 | 1,027 | 806 | 531 | 274 | 2,255 | (1,172) | (351) | 3,370
Level 3 | 250 | 227 | - | 44 | - | (35) | (1) | 485
Total fair value | 2,365 | 1,032 | 896 | 318 | 2,255 | (1,207) | (352) | 5,307
Reconciliation of fair value changes in financial instruments [Table text block] |
(in USD million) | Non-current financial investments | Non-current derivative financial instruments - assets | Current derivative financial instruments - assets | Non-current derivative financial instruments - liabilities | Current derivative financial instruments - liabilities | Total amount
Opening as at 1 January 2019 | 250 | 227 | 44 | (35) | (1) | 485
Total gains and losses recognised in statement of income | (38) | (6) | 31 | 16 | 1 | 4
Purchases | 78 | - | - | - | - | 78
Settlement | (11) | - | (42) | - | - | (52)
Transfer to level 1 | (3) | - | - | - | - | (3)
Foreign currency translation differences | (0) | (2) | (0) | - | - | (3)
Closing as at 31 December 2019 | 277 | 219 | 33 | (19) | - | 510
Opening as at 1 January 2018 | 397 | 283 | 37 | - | (4) | 713
Total gains and losses recognised in statement of income | (91) | (44) | 46 | (35) | 3 | (122)
Purchases | 35 | - | - | - | - | 35
Settlement | - | - | (36) | - | - | (36)
Transfer into level 3 | (88) | - | - | - | - | (88)
Foreign currency translation differences | (3) | (13) | (3) | - | - | (18)
Closing as at 31 December 2018 | 250 | 227 | 44 | (35) | (1) | 485
Commodity price sensitivity [member] |
Disclosure of risk management strategy related to hedge accounting [line items] |
Sensitivity analysis for types of market risk [text block] |
Commodity price sensitivity | 2019 | 2018
(in USD million) | - 30% | + 30% | - 30% | + 30%
At 31 December |  |  |  |
Crude oil and refined products net gains/(losses) | 569 | (563) | 275 | (230)
Natural gas and electricity net gains/(losses) | (33) | 49 | 1,157 | (1,156)
Currency risk sensitivity [member] |
Disclosure of risk management strategy related to hedge accounting [line items] |
Sensitivity analysis for types of market risk [text block] |
Currency risk sensitivity | 2019 | 2018
(in USD million) | - 9% | + 9% | - 9% | + 9%
At 31 December |  |  |  |
USD net gains/(losses) | (220) | 220 | (230) | 230
NOK net gains/(losses) | 282 | (282) | 311 | (311)
Interest rate sensitivity [member] |
Disclosure of risk management strategy related to hedge accounting [line items] |
Sensitivity analysis for types of market risk [text block] |
Interest risk sensitivity | 2019 | 2018
(in USD million) | - 0.6 percentage points | + 0.6 percentage points | - 0.6 percentage points | + 0.6 percentage points
At 31 December |  |  |  |
Positive/(negative) impact on net financial items | 526 | (526) | 575 | (575)
Equity price risk [member] |
Disclosure of risk management strategy related to hedge accounting [line items] |
Sensitivity analysis for types of market risk [text block] |
Equity price sensitivity | 2019
(in USD million) | - 35% | + 35%
At 31 December |  |
Net gains/(losses) | (631) | 631

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