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Inventories

12 Months Ended

Dec. 31, 2017

12 Inventories

	December 31, 2017								December 31, 2016
(€ million)	Crude oil, gas and petroleum products		Chemical products		Other		Total		Crude oil, gas and petroleum products		Chemical products		Other		Total
Raw and auxiliary materials and consumables		785		140		1,640		2,565		550		135		1,903		2,588
Products being processed and semi-finished products		133		7				140		99		9		1		109
Work in progress						1		1						2		2
Finished products and goods		1,287		489		83		1,859		1,394		389		86		1,869
Certificates and emission rights						56		56						69		69
		2,205		636		1,780		4,621		2,043		533		2,061		4,637

Other inventories of raw and auxiliary materials and consumables of €1,640 million (€1,903 million at December 31, 2016) related to the Exploration & Production segment for €1,441 million (€1,699 million at December 31, 2016) and primarily comprised materials relating to perforation activities and the maintenance of infrastructures and facilities.

Certificates and emission rights of €56 million (€69 million at December 31, 2016) are measured at the fair value determined based on market quotations. The fair value hierarchy is level 1.

Inventories of €86 million (€82 million at December 31, 2016) were pledged to guarantee the estimated imbalance in volumes input to/off-taken from the national gas network operated by Snam Rete Gas SpA.

Changes in inventories and in the loss provision were as follows:

	2017									2016
(€ million)	Gross carrying amount			Loss provision			Net carrying amount			Gross carrying amount			Loss provision			Net carrying amount
Carrying amount at the beginning of the year		4,892			(255	)		4,637			4,887			(308	)		4,579
Changes		314						314			(29	)					(29	)
New or increased provisions					(81	)		(81	)					(125	)		(125	)
Deductions					18			18						163			163
Currency translation differences		(254	)		22			(232	)		61			(5	)		56
Other changes		(86	)		51			(35	)		(27	)		20			(7	)
Carrying amount at the end of the year		4,866			(245	)		4,621			4,892			(255	)		4,637

Changes of the period amounting to €314 million related to the business lines Refining & Marketing for €192 million and Chemical for €129 million. Loss provision of €245 million related to the Exploration & Production segment for €191 million.