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Financial instruments: fair value measurement and sensitivity analysis of market risk (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure of Financial instruments: fair value measurement and sensitivity analysis of market risk [abstract]  
Disclosure of financial assets [text block]
At 31 December 2021
Fair value
through profit
or loss
Non-financial
assets
Total carrying
amount
(in USD million)
Note
Amortised cost
Assets
Non-current derivative financial instruments
 
1,265
1,265
Non-current financial investments
14
253
3,093
3,346
Prepayments and financial receivables
14
707
380
1,087
Trade and other receivables
16
17,192
736
17,927
Current derivative financial instruments
 
5,131
5,131
Current financial investments
14
20,946
300
21,246
Cash and cash equivalents
17
11,412
2,714
14,126
Total financial assets
50,510
12,503
1,116
64,128
At 31 December 2020
Fair value
through profit
or loss
Non-financial
assets
Total carrying
amount
(in USD million)
Note
Amortised cost
Assets
Non-current derivative financial instruments
 
2,476
2,476
Non-current financial investments
14
261
3,822
4,083
Prepayments and financial receivables
1)
14
465
396
861
Trade and other receivables
16
7,418
814
8,232
Current derivative financial instruments
 
886
886
Current financial investments
14
11,649
216
11,865
Cash and cash equivalents
17
6,264
492
6,757
Total financial assets
26,057
7,892
1,210
35,159
1) The categories Amortised cost and Non-financial assets
 
has been reclassified under Prepayments and
 
financial receivables, due to an
incorrect classification of USD 32 million in 2020.
Disclosure of financial liabilities [text block]
At 31 December 2021
Amortised
cost
Fair value
through
profit or loss
Non-financial
liabilities
Total
carrying
amount
(in USD million)
Note
Liabilities
Non-current finance debt
19
27,404
27,404
Non-current derivative financial instruments
 
767
767
Trade, other payables and provisions
22
12,350
1,960
14,310
Current finance debt
19
5,273
5,273
Dividend payable
582
582
Current derivative financial instruments
 
4,609
4,609
Total financial liabilities
45,609
5,376
1,960
52,945
At 31 December 2020
Amortised
cost
Fair value
through
profit or loss
Non-financial
liabilities
Total
carrying
amount
(in USD million)
Note
Liabilities
Non-current finance debt
19
29,118
29,118
Non-current derivative financial instruments
 
676
676
Trade, other payables and provisions
22
7,736
2,774
10,510
Current finance debt
19
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
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 2021
Level 1
860
0
-
949
0
(69)
1,740
Level 2
1,840
884
300
4,108
2,714
(762)
(4,539)
4,545
Level 3
393
380
74
(4)
843
Total fair value
3,093
1,265
300
5,131
2,714
(767)
(4,609)
7,127
At 31 December 2020
Level 1
1,379
-
66
419
-
(432)
1,432
Level 2
2,135
2,146
150
443
492
(671)
(1,277)
3,418
Level 3
308
330
24
(5)
657
Total fair value
3,822
2,476
216
886
492
(676)
(1,710)
5,505
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
Total amount
Opening at 1 January 2021
308
330
24
(5)
657
Total gains and losses recognised in statement of income
(23)
58
72
1
108
Purchases
119
119
Settlement
(7)
(20)
(27)
Transfer out of level 3
-
-
Foreign currency translation effects
(3)
(8)
(2)
(13)
Closing at 31 December 2021
394
380
74
(4)
844
Opening at 1 January 2020
277
219
33
(19)
510
Total gains and losses recognised in statement of income
(29)
106
19
14
109
Purchases
64
64
Settlement
(8)
(28)
(36)
Transfer to level 1
1
1
Foreign currency translation effects
4
5
-
9
Closing at 31 December 2020
308
330
24
(5)
657
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
2021
2020
(in USD million)
- 30%
+ 30%
- 30%
+ 30%
Crude oil and refined products net gains/(losses)
735
(735)
1,025
(1,025)
Natural gas, electricity and CO2 net gains/(losses)
227
(141)
184
(94)
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
2021
2020
(in USD million)
- 10 %
+ 10%
- 8 %
+ 8%
USD net gains/(losses)
(1,789)
1,789
(319)
319
NOK net gains/(losses)
2,144
(2,144)
322
(322)
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
2021
2020
(in USD million)
 
- 0.8 percentage
points
+ 0.8 percentage
points
 
- 0.6 percentage
points
+ 0.6 percentage
points
Positive/(negative) impact on net financial items
448
(448)
516
(516)
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
2021
2020
(in USD million)
- 35%
+ 35%
- 35%
+ 35%
Net gains/(losses)
(534)
534
(684)
684