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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, 2020
Disclosure of Financial instruments: fair value measurement and sensitivity analysis of market risk [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 2020 |  |  |  |  |
Assets |  |  |  |  |
Non-current derivative financial instruments |  |  | 2,476 |  | 2,476
Non-current financial investments | 13 | 261 | 3,822 |  | 4,083
Prepayments and financial receivables | 13 | 497 |  | 364 | 861
Trade and other receivables | 15 | 7,418 |  | 814 | 8,232
Current derivative financial instruments |  |  | 886 |  | 886
Current financial investments | 13 | 11,649 | 216 |  | 11,865
Cash and cash equivalents | 16 | 6,264 | 492 |  | 6,757
Total financial assets |  | 26,090 | 7,892 | 1,178 | 35,159
(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 financial assets |  | 20,125 | 6,452 | 1,016 | 27,593
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 2020 |  |  |  |  |
Liabilities |  |  |  |  |
Non-current finance debt | 18 | 29,118 |  |  | 29,118
Non-current derivative financial instruments |  |  | 676 |  | 676
Trade, other payables and provisions | 21 | 7,736 |  | 2,774 | 10,510
Current finance debt | 18 | 4,591 |  |  | 4,591
Dividend payable |  | 357 |  |  | 357
Current derivative financial instruments |  |  | 1,710 |  | 1,710
Total financial liabilities |  | 41,802 | 2,386 | 2,774 | 46,961
(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 debt1) | 18 | 21,754 |  |  | 21,754
Non-current derivative financial instruments |  |  | 1,173 |  | 1,173
Trade, other payables and provisions | 21 | 9,027 |  | 1,423 | 10,450
Current finance debt1) | 18 | 2,939 |  |  | 2,939
Dividend payable |  | 859 |  |  | 859
Current derivative financial instruments |  |  | 462 |  | 462
Total financial liabilities1) |  | 34,580 | 1,635 | 1,423 | 37,637
1) Non-current finance debt and Current finance debt in the column Non-financial liabilities reclassified as Lease liabilities is separated from the line item Finance debt in the Consolidated balance sheet.
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 2020 |  |  |  |  |  |  |  |
Level 1 | 1,379 | 0 | 66 | 419 |  | 0 | (432) | 1,432
Level 2 | 2,135 | 2,146 | 150 | 443 | 492 | (671) | (1,277) | 3,417
Level 3 | 308 | 330 |  | 24 |  | (5) |  | 657
Total fair value | 3,822 | 2,476 | 216 | 886 | 492 | (676) | (1,710) | 5,505
At 31 December 2019 |  |  |  |  |  |  |  |
Level 1 | 1,456 | 7 | 0 | 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
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 at 1 January 2020 | 277 | 219 | 33 | (19) | 0 | 510
Total gains and losses recognised in statement of income | (29) | 106 | 19 | 14 | 0 | 109
Purchases | 64 |  |  |  |  | 64
Settlement | (8) |  | (28) |  |  | (36)
Transfer to level 1 | 1 |  |  |  |  | 1
Foreign currency translation effects | 4 | 5 | (0) |  |  | 9
Closing at 31 December 2020 | 308 | 330 | 24 | (5) | 0 | 657
Opening 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 effects | (0) | (2) | (0) |  |  | (3)
Closing at 31 December 2019 | 277 | 219 | 33 | (19) | 0 | 510
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 | At 31 December
| 2020 | 2019
(in USD million) | - 30% | + 30% | - 30% | + 30%
Crude oil and refined products net gains/(losses) | 1,025 | (1,025) | 569 | (563)
Natural gas, electricity and Co2 net gains/(losses) | 184 | (94) | (33) | 49
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 | At 31 December
| 2020 | 2019
(in USD million) | - 8% | + 8% | - 9% | + 9%
USD net gains/(losses) | (319) | 319 | (220) | 220
NOK net gains/(losses) | 322 | (322) | 282 | (282)
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 | At 31 December
| 2020 | 2019
(in USD million) | - 0.6 percentage points | + 0.6 percentage points | - 0.6 percentage points | + 0.6 percentage points
Positive/(negative) impact on net financial items | 516 | (516) | 526 | (526)
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 | At 31 December
| 2020 | 2019
(in USD million) | - 35% | + 35% | - 35% | + 35%
Net gains/(losses) | (684) | 684 | (631) | 631

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