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Financial instruments: fair value measurement and sensitivity analysis of market risk (Tables)

12 Months Ended

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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The disclosure of the sensitivity analysis for types of market risk to which the entity is exposed, showing how profit or loss and equity would have been affected by changes in the relevant risk variable that were reasonably possible at that date. [Refer: Market risk [member]]

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