ConocoPhillips (COP) 10-Q 3 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover	9 Months Ended
	Sep. 30, 2022 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Registrant Name	ConocoPhillips
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	01-0562944
Entity Address, Address Line One	925 N. Eldridge Parkway
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77079
City Area Code	281
Local Phone Number	293-1000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	1,246,071,066
Entity Central Index Key	0001163165
Amendment Flag	false
Entity File Number	001-32395
Common Stock, $.01 Par Value
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, $.01 Par Value
Trading Symbol	COP
Security Exchange Name	NYSE
7% Debentures due 2029
Entity Listings [Line Items]
Title of 12(b) Security	7% Debentures due 2029
Trading Symbol	CUSIP—718507BK1
Security Exchange Name	NYSE

Consolidated Income Statement

Consolidated Income Statement - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues and Other Income
Sales and other operating revenues	$ 21,013	$ 11,326	$ 59,936	$ 30,708
Equity in earnings of affiliates	561	239	1,511	500
Gain (loss) on dispositions	(40)	2	1,039	294
Other income	80	49	408	884
Total Revenues and Other Income	21,614	11,616	62,894	32,386
Costs and Expenses
Purchased commodities	9,251	4,179	25,236	11,660
Production and operating expenses	1,799	1,389	5,121	4,151
Selling, general and administrative expenses	148	128	431	556
Exploration expenses	89	65	301	206
Depreciation, depletion and amortization	1,872	1,672	5,505	5,425
Impairments	2	(89)	6	(90)
Taxes other than income taxes	843	403	2,677	1,154
Accretion on discounted liabilities	60	61	182	186
Interest and debt expense	199	219	627	665
Foreign currency transaction (gain) loss	(93)	(10)	(139)	19
Other expenses	4	17	(46)	78
Total Costs and Expenses	14,174	8,034	39,901	24,010
Income before income taxes	7,440	3,582	22,993	8,376
Income tax provision	2,913	1,203	7,562	2,924
Net Income	$ 4,527	$ 2,379	$ 15,431	$ 5,452
Net Income Per Share of Common Stock (dollars)
Basic (in dollars per share)	$ 3.56	$ 1.78	$ 11.96	$ 4.10
Diluted (in dollars per share)	$ 3.55	$ 1.78	$ 11.93	$ 4.09
Average Common Shares Outstanding (in thousands)
Basic (in shares)	1,265,893	1,332,286	1,285,739	1,327,216
Diluted (in shares)	1,269,321	1,336,379	1,289,953	1,330,652

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 4,527	$ 2,379	$ 15,431	$ 5,452
Defined benefit plans
Reclassification adjustment for amortization of prior service credit included in net income	(10)	(9)	(30)	(28)
Net change	(10)	(9)	(30)	(28)
Net actuarial gain (loss) arising during the period	(23)	8	(105)	113
Reclassification adjustment for amortization of net actuarial losses included in net income	17	45	58	133
Net change	(6)	53	(47)	246
Income taxes on defined benefit plans	4	(9)	16	(49)
Defined benefit plans, net of tax	(12)	35	(61)	169
Unrealized holding loss on securities	(7)	0	(16)	(1)
Reclassification adjustment for loss included in net income	(1)	0	(1)	0
Income taxes on unrealized holding loss on securities	2	0	4	0
Unrealized holding loss on securities, net of tax	(6)	0	(13)	(1)
Foreign currency translation adjustments	(534)	(237)	(841)	(72)
Income taxes on foreign currency translation adjustments	0	(1)	0	(1)
Foreign currency translation adjustments, net of tax	(534)	(238)	(841)	(73)
Other Comprehensive Income (Loss), Net of Tax	(552)	(203)	(915)	95
Comprehensive Income	$ 3,975	$ 2,176	$ 14,516	$ 5,547

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 8,010	$ 5,028
Short-term investments	2,412	446
Accounts and notes receivable (net of allowance of $2 and $2, respectively)	7,338	6,543
Accounts and notes receivable—related parties	16	127
Investment in Cenovus Energy	0	1,117
Inventories	1,226	1,208
Prepaid expenses and other current assets	1,451	1,581
Total Current Assets	20,453	16,050
Investments and long-term receivables	8,204	7,113
Net properties, plants and equipment (net of accumulated DD&A of $64,874 and $64,735, respectively)	63,673	64,911
Other assets	2,507	2,587
Total Assets	94,837	90,661
Liabilities
Accounts payable	6,242	5,002
Accounts payable—related parties	26	23
Short-term debt	664	1,200
Accrued income and other taxes	3,187	2,862
Employee benefit obligations	628	755
Other accruals	3,250	2,179
Total Current Liabilities	13,997	12,021
Long-term debt	16,297	18,734
Asset retirement obligations and accrued environmental costs	5,729	5,754
Deferred income taxes	7,218	6,179
Employee benefit obligations	1,087	1,153
Other liabilities and deferred credits	1,430	1,414
Total Liabilities	45,758	45,255
Equity
Common stock	21	21
Capital in excess of par	61,089	60,581
Treasury stock (at cost: 2022—854,308,013 shares; 2021—789,319,875 shares)	(57,444)	(50,920)
Accumulated other comprehensive loss	(5,865)	(4,950)
Retained earnings	51,278	40,674
Total Equity	49,079	45,406
Total Liabilities and Equity	$ 94,837	$ 90,661

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for accounts and notes receivable	$ 2	$ 2
Accumulated depreciation, depletion and amortization	$ 64,874	$ 64,735
Common stock, shares authorized (in shares)	2,500,000,000	2,500,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	2,100,379,079	2,091,562,747
Treasury stock, shares (in shares)	854,308,013	789,319,875

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022		Sep. 30, 2021
Cash Flows From Operating Activities
Net Income	$ 15,431		$ 5,452
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation, depletion and amortization	5,505		5,425
Impairments	6		(90)
Dry hole costs and leasehold impairments	136		7
Accretion on discounted liabilities	182		186
Deferred taxes	1,594		895
Undistributed equity earnings	569		258
Gain on dispositions	(1,039)		(294)
Gain on investment in Cenovus Energy	(251)		(743)
Other	(38)		(866)
Working capital adjustments
Increase in accounts and notes receivable	(1,317)		(1,619)
Increase in inventories	(64)		(13)
Increase in prepaid expenses and other current assets	(469)		(800)
Increase in accounts payable	1,098		682
Increase in taxes and other accruals	379		2,648
Net Cash Provided by Operating Activities	21,722		11,128
Cash Flows From Investing Activities
Capital expenditures and investments	(7,626)		(3,767)
Working capital changes associated with investing activities	542		79
Acquisition of businesses, net of cash acquired	37		382
Proceeds from asset dispositions	3,354		792
Net (purchase) sale of investments	(2,235)		2,846
Collection of advances/loans—related parties	114		105
Other	7		(386)
Net Cash (Used in) Provided by Investing Activities	(5,807)		51
Cash Flows From Financing Activities
Issuance of debt	2,897		0
Repayment of debt	(5,874)		(363)
Issuance of company common stock	345		27
Repurchase of company common stock	(6,524)		(2,224)
Dividends paid	(3,336)		(1,750)
Other	(53)		6
Net Cash Used in Financing Activities	(12,545)		(4,304)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	(452)		(3)
Net Change in Cash, Cash Equivalents and Restricted Cash	2,918		6,872
Cash, cash equivalents and restricted cash at beginning of period	5,398	[1]	3,315
Cash, Cash Equivalents and Restricted Cash at End of Period	$ 8,316	[2]	$ 10,187
[1]Restricted cash of $152 million and $218 million are included in the "Prepaid expenses and other current assets" and "Other assets" lines, respectively, of our Consolidated Balance Sheet as of December 31, 2021.[2]Restricted cash of $306 million is included in the "Other assets" line of our Consolidated Balance Sheet as of September 30, 2022.

Consolidated Statement of Cas_2

Consolidated Statement of Cash Flows (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Restricted cash	$ 306
Prepaid expenses and other current assets
Restricted cash		$ 152
Other assets
Restricted cash		$ 218

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1—Basis of Presentation The interim-period financial information presented in the financial statements included in this report is unaudited and, in the opinion of management, includes all known accruals and adjustments necessary for a fair presentation of the consolidated financial position of ConocoPhillips, its results of operations and cash flows for such periods. All such adjustments are of a normal and recurring nature unless otherwise disclosed. Certain notes and other information have been condensed or omitted from the interim financial statements included in this report. Therefore, these financial statements should be read in conjunction with the consolidated financial statements and notes included in our 2021 Annual Report on Form 10-K.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Note 2—Inventories Millions of Dollars September 30 December 31 2021 Crude oil and natural gas $ 650 647 Materials and supplies 576 561 Total Inventories $ 1,226 1,208 Inventories valued on the LIFO basis $ 389 395

Acquisitions and Dispositions

Acquisitions and Dispositions	9 Months Ended
	Sep. 30, 2022
Business Combination, Asset Acquisition And Dispositions [Abstract]
Acquisitions and Dispositions	Note 3—Acquisitions and Dispositions Acquisition of Shell Enterprise LLC's (Shell) Permian Assets In December 2021, we completed our acquisition of Shell's assets in the Permian based Delaware Basin in an all-cash transaction for $8.6 billion after customary adjustments. Assets acquired include approximately 225,000 net acres and producing properties located entirely in Texas. The acquisition was accounted for as a business combination under FASB Topic ASC 805 using the acquisition method, which requires assets acquired and liabilities assumed to be measured at their acquisition date fair values. Fair value measurements were made for acquired assets and liabilities, and adjustments to those measurements may be made in subsequent periods, up to one year from the acquisition date as we identify new information about facts and circumstances that existed as of the acquisition date to consider. Oil and gas properties were valued using a discounted cash flow approach incorporating market participant and internally generated price assumptions, production profiles and operating and development cost assumptions. The fair values determined for accounts receivable, accounts payable and most other current assets and current liabilities were equivalent to the carrying value due to their short-term nature. The total consideration of $8.6 billion was allocated to the identifiable assets and liabilities based on their fair values at the acquisition date. Assets Acquired Millions of Dollars Accounts receivable, net $ 337 Inventories 20 Net properties, plants and equipment 8,582 Other assets 50 Total assets acquired $ 8,989 Liabilities Assumed Accounts payable $ 206 Accrued income and other taxes 6 Other accruals 20 Asset retirement obligations and accrued environmental costs 86 Other liabilities and deferred credits 36 Total liabilities assumed $ 354 Net assets acquired $ 8,635 With the completion of the Shell Permian transaction, we acquired proved and unproved properties of approximately $4.2 billion and $4.3 billion, respectively. Supplemental Pro Forma (unaudited) The following table summarizes the unaudited supplemental pro forma financial information for the three- and nine-month periods ended September 30, 2021, as if we had completed the acquisition of Shell's Permian assets on January 1, 2020: Millions of Dollars Three Months Ended Nine Months Ended Supplemental Pro Forma (unaudited) As Reported Pro forma Shell Pro forma Combined As Reported Pro forma Shell Pro forma Combined Total Revenues and Other Income 11,616 882 12,498 32,386 2,277 34,663 Income before income taxes 3,582 364 3,946 8,376 780 9,156 Net Income 2,379 279 2,658 5,452 597 6,049 Earnings per share ($ per share): Basic net income $ 1.78 1.99 4.10 4.55 Diluted net income 1.78 1.98 4.09 4.54 The unaudited supplemental pro forma financial information is presented for illustration and comparative purposes only and is not necessarily indicative of the operating results that would have occurred had the transaction been completed on January 1, 2020, nor is it necessarily indicative of future operating results of the combined entity. The unaudited pro forma financial information for the three- and nine-month periods ended September 30, 2021, is a result of combining the consolidated income statement of ConocoPhillips with the results of the assets acquired from Shell. The pro forma results do not include transaction-related costs, nor any cost savings anticipated as a result of the transaction. The pro forma results include adjustments made primarily to DD&A, which is based on the unit-of-production method, resulting from the purchase price allocated to properties, plants and equipment. We believe the estimates and assumptions are reasonable, and the relative effects of the transaction are properly reflected. Acquisition of Concho Resources Inc. (Concho) In January 2021, we completed our acquisition of Concho, an independent oil and gas exploration and production company in an all-stock transaction. In conjunction with this acquisition, we commenced, and completed in 2021, a company-wide restructuring program, the scope of which included combining the operations of the two companies as well as other global restructuring activities for which we recognized non-recurring restructuring and transaction costs. Further information regarding the Concho acquisition can be found in the following footnotes: Note — Changes in Equity ; Note — Contingencies and Commitments ; Note — Derivative and Financial Instruments ; and Note — Cash Flow Information and should be read in conjunction with the notes included in our Annual Report on Form 10-K. Acquisition of Additional Shareholding Interest in Australia Pacific LNG Pty Ltd (APLNG) In February 2022, we completed the acquisition of an additional 10 percent interest in APLNG from Origin Energy for approximately $1.4 billion, after customary adjustments, in an all-cash transaction resulting from the exercise of our preemption right. This increased our ownership in APLNG to 47.5 percent, with Origin Energy and Sinopec owning 27.5 percent and 25 percent, respectively. APLNG is reported as an equity investment in our Asia Pacific segment. Asset Acquisition In September 2022, we completed the acquisition of additional working interest in certain Eagle Ford acreage in the Lower 48 segment for cash consideration of $236 million after customary adjustments. This agreement was accounted for as an asset acquisition resulting in the recognition of $254 million of PP&E, $10 million of ARO and an $8 million net reduction in working capital. Assets Sold In September 2022, we sold our interest in certain noncore assets in the Anadarko basin of our Lower 48 segment for net proceeds of $210 million and recognized a $76 million before-tax and $58 million after-tax loss. At the time of disposition, our interest in these assets had a net carrying value of $286 million, consisting of $310 million of assets, primarily related to $303 million of PP&E, and $24 million of liabilities, primarily related to AROs. In April 2022, we sold our interests in certain noncore assets in the Permian basin of our Lower 48 segment for net proceeds of $370 million and recognized an $80 million before-tax and $63 million after-tax gain. At the time of disposition, our interests in these assets had a net carrying value of $290 million, consisting primarily of $401 million of PP&E and $111 million of liabilities, primarily related to AROs. In March 2022, we completed the divestiture of our subsidiaries that held our Indonesia assets and operations, and based on an effective date of January 1, 2021, we received net proceeds of $731 million after customary adjustments and recognized a $534 million before-tax and $462 million after-tax gain related to this transaction. Together, the subsidiaries sold indirectly held our 54 percent interest in the Indonesia Corridor Block Production Sharing Contract (PSC) and 35 percent shareholding in the Transasia Pipeline Company. At the time of the disposition, the net carrying value was approximately $0.2 billion, excluding $0.2 billion of cash and restricted cash. The net book value consisted primarily of $0.3 billion of PP&E and $0.1 billion of ARO. The before-tax earnings associated with the subsidiaries sold, excluding the gain on disposition noted above, were $138 million and $423 million for the nine-month period ended September 30, 2022 and 2021, respectively. Results of operations for the Indonesia interests sold were reported in our Asia Pacific segment. For the three- and nine-months ended September 30, 2022, we recorded contingent payments of $6 million and $430 million, respectively, relating to the previous dispositions of our interest in the Foster Creek Christina Lake Partnership and western Canada gas assets as well as our San Juan assets. The contingent payments are recorded as gain on dispositions in our consolidated income statement and are reflected within our Canada and Lower 48 segments. The term of contingent payments in our Canada segment ended in the second quarter of 2022. For the three- and nine-months ended September 30, 2021, we recorded contingent payments of $121 million and $222 million, respectively, relating to these dispositions.

Investments, Loans and Long-Ter

Investments, Loans and Long-Term Receivables	9 Months Ended
	Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Investments, Loans and Long-Term Receivables	Note 4—Investments, Loans and Long-Term Receivables APLNG APLNG executed an $8.5 billion project finance facility in 2012 which became non-recourse following financial completion in 2017. Following refinancing efforts, the facility is currently composed of a financing agreement with the Export-Import Bank of the United States, a commercial bank facility and two United States Private Placement note facilities. APLNG principal and interest payments commenced in March 2017 and are scheduled to occur bi-annually until September 2030. At September 30, 2022, a balance of $5.2 billion was outstanding on these facilities. See Note . In February 2022, we completed the acquisition of an additional 10 percent interest in APLNG from Origin Energy for approximately $1.4 billion resulting from the exercise of our preemption right. This increased our ownership in APLNG to 47.5 percent, with Origin Energy and Sinopec owning 27.5 percent and 25 percent, respectively. At September 30, 2022, the carrying value of our equity method investment in APLNG was $6.4 billion. The balance is included in the “Investments and long-term receivables” line on our consolidated balance sheet. Loans As part of our normal ongoing business operations, we enter into numerous agreements with other parties to pursue business opportunities. Included in such activity are loans made to certain affiliated and non-affiliated companies. At September 30, 2022, there were no outstanding loans to affiliated companies as the final loan payment related to Qatar Liquefied Gas Company Limited (3) project financing was received in the third quarter of 2022.

Investment in Cenovus Energy

Investment in Cenovus Energy	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investment in Cenovus Energy	Note 5—Investment in Cenovus Energy At December 31, 2021, we held 91 million common shares of Cenovus Energy (CVE), which approximated 4.5% of their issued and outstanding common shares. Those shares were carried on our balance sheet at fair value of $1.1 billion based on NYSE closing price of $12.28 per share on the last day of trading for the period. During the first quarter of 2022, we sold our remaining 91 million shares, recognizing proceeds of $1.4 billion. All gains and losses were recognized within " Other income” on our consolidated income statement. Proceeds related to the sale of our CVE shares were included within “Cash Flows from Investing Activities” on our consolidated statement of cash flows. See Note . Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Total Net gain on equity securities $ — 17 251 743 Less: Net gain (loss) on equity securities sold during the period — (50) 251 177 Unrealized gain on equity securities still held at the reporting date $ — 67 $ — 566

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Note 6—Debt Millions of Dollars September 30 December 31 2021 2.4% Notes due 2022 $ 329 329 7.65% Debentures due 2023 78 78 3.35% Notes due 2024 426 426 2.125% Notes due 2024 900 — 8.2% Notes due 2025 134 134 3.35% Debentures due 2025 199 199 2.4% Notes due 2025 900 — 6.875% Debentures due 2026 67 67 4.95% Notes due 2026 — 1,250 7.8% Debentures due 2027 203 203 3.75% Notes due 2027 196 1,000 4.3% Notes due 2028 223 1,000 7.375% Debentures due 2029 92 92 7% Debentures due 2029 112 200 6.95% Notes due 2029 1,195 1,549 8.125% Notes due 2030 390 390 7.4% Notes due 2031 382 500 7.25% Notes due 2031 400 500 7.2% Notes due 2031 447 575 2.4% Notes due 2031 227 500 5.9% Notes due 2032 505 505 4.15% Notes due 2034 246 246 5.95% Notes due 2036 326 500 5.951% Notes due 2037 645 645 5.9% Notes due 2038 350 600 6.5% Notes due 2039 1,588 2,750 3.758% Notes due 2042 785 — 4.3% Notes due 2044 750 750 5.95% Notes due 2046 329 500 7.9% Debentures due 2047 60 60 4.875% Notes due 2047 319 800 4.85% Notes due 2048 219 600 3.8% Notes due 2052 1,100 — 4.025% Notes due 2062 1,770 — Floating rate notes due 2022 at 1.06% – 1.41% during 2022 and 1.02% –1.12% during 2021 — 500 Marine Terminal Revenue Refunding Bonds due 2031 at 0.07% – 2.55% during 2022 and 0.04% – 0.15% during 2021 265 265 Industrial Development Bonds due 2035 at 0.07% – 2.55% during 2022 and 0.04% – 0.12% during 2021 18 18 Other 31 35 Debt at face value 16,206 17,766 Finance leases 1,282 1,261 Net unamortized premiums, discounts and debt issuance costs (527) 907 Total debt 16,961 19,934 Short-term debt (664) (1,200) Long-term debt $ 16,297 18,734 In May 2022, we redeemed $1,250 million principal amount of our 4.95 percent Notes due 2026. We paid premiums above face value of $79 million to redeem the debt and recognized a loss on debt extinguishment of $83 million which is included in the "Other expenses" line on our consolidated income statement. We also paid $500 million to retire the outstanding principal amount of the floating rate notes due 2022 at maturity. In the first quarter of 2022, we completed a debt refinancing consisting of three concurrent transactions: a tender offer to repurchase existing debt for cash; exchange offers to retire certain debt in exchange for new debt and cash; and a new debt issuance to partially fund the cash paid in the tender and exchange offers. Tender Offer In March 2022, we repurchased a total of $2,716 million aggregate principal amount of debt as listed below. We paid premiums above face value of $333 million to repurchase these debt instruments and recognized a gain on debt extinguishment of $155 million which is included in the "Other expenses" line on our consolidated income statement. • 3.75% Notes due 2027 with principal of $1,000 million (partial repurchase of $804 million) • 4.3% Notes due 2028 with principal of $1,000 million (partial repurchase of $777 million) • 2.4% Notes due 2031 with principal of $500 million (partial repurchase of $273 million) • 4.875% Notes due 2047 with principal of $800 million (partial repurchase of $481 million) • 4.85% Notes due 2048 with principal of $600 million (partial repurchase of $381 million) Exchange Offers Also in March 2022, we completed two concurrent debt exchange offers through which $2,544 million of aggregate principal of existing notes was tendered and accepted in exchange for a combination of new notes and cash. The debt exchange offers were treated as debt modifications for accounting purposes resulting in a portion of the unamortized debt discount, premiums and debt issuance costs of the existing notes being allocated to the new notes on the settlement dates of the exchange offers. We paid premiums above face value of $883 million, comprised of $872 million of cash as well as new notes, which were capitalized as additional debt discount. We incurred expenses of $28 million in the exchanges which are included in the "Other expenses" line on our consolidated income statement. The notes tendered and accepted in the exchange offers were: • 7% Debentures due 2029 with principal amount of $200 million (partial exchange of $88 million) • 6.95% Notes due 2029 with principal amount of $1,549 million (partial exchange of $354 million) • 7.4% Notes due 2031 with principal amount of $500 million (partial exchange of $118 million) • 7.25% Notes due 2031 with principal amount of $500 million (partial exchange of $100 million) • 7.2% Notes due 2031 with principal amount of $575 million (partial exchange of $128 million) • 5.95% Notes due 2036 with principal amount of $500 million (partial exchange of $174 million) • 5.9% Notes due 2038 with principal amount of $600 million (partial exchange of $250 million) • 6.5% Notes due 2039 with principal amount of $2,750 million (partial exchange of $1,162 million) • 5.95% Notes due 2046 with principal amount of $500 million (partial exchange of $171 million) The notes tendered and accepted were exchanged for the following new notes: • 3.758% Notes due 2042 with principal amount of $785 million • 4.025% Notes due 2062 with principal amount of $1,770 million New Debt Issuance On March 8, 2022, we issued the following new notes consisting of: • 2.125% Notes due 2024 with principal of $900 million • 2.4% Notes due 2025 with principal of $900 million • 3.8% Notes due 2052 with principal of $1,100 million In February 2022, we refinanced our revolving credit facility from a total borrowing capacity of $6.0 billion to $5.5 billion with an expiration date of February 2027. Our revolving credit facility may be used for direct bank borrowings, the issuance of letters of credit totaling up to $500 million, or as support for our commercial paper program. The revolving credit facility is broadly syndicated among financial institutions and does not contain any material adverse change provisions or any covenants requiring maintenance of specified financial ratios or credit ratings. The facility agreement contains a cross-default provision relating to the failure to pay principal or interest on other debt obligations of $200 million or more by ConocoPhillips, or any of its consolidated subsidiaries. The amount of the facility is not subject to redetermination prior to its expiration date. Credit facility borrowings may bear interest at a margin above rates offered by certain designated banks in the London interbank market or at a margin above the overnight federal funds rate or prime rates offered by certain designated banks in the U.S. The facility agreement calls for commitment fees on available, but unused, amounts. The facility agreement also contains early termination rights if our current directors or their approved successors cease to be a majority of the Board of Directors. The revolving credit facility supports our ability to issue up to $5.5 billion of commercial paper. Commercial paper is generally limited to maturities of 90 days and is included in short-term debt on our consolidated balance sheet. With no commercial paper outstanding and no direct borrowings or letters of credit, we had access to $5.5 billion in available borrowing capacity under our revolving credit facility at September 30, 2022. At December 31, 2021, we had no commercial paper outstanding and no direct borrowings or letters of credit issued. In September 2022, Moody's upgraded our long-term credit rating to "A2" with a stable outlook from the previous "A3" with a positive outlook and upgraded our commercial paper rating to "Prime-1" from "Prime-2". The current credit ratings on our long-term debt are: • Fitch: “A” with a “stable” outlook • S&P: “A-” with a “stable” outlook • Moody's: "A2" with a "stable" outlook We do not have any ratings triggers on any of our corporate debt that would cause an automatic default, and thereby impact our access to liquidity upon downgrade of our credit ratings. If our credit ratings are downgraded from their current levels, it could increase the cost of corporate debt available to us and restrict our access to the commercial paper markets. If our credit ratings were to deteriorate to a level prohibiting us from accessing the commercial paper market, we would still be able to access funds under our revolving credit facility. At September 30, 2022, we had $283 million of certain variable rate demand bonds (VRDBs) outstanding with maturities ranging through 2035. The VRDBs are redeemable at the option of the bondholders on any business day. If they are ever redeemed, we have the ability and intent to refinance on a long-term basis, therefore, the VRDBs are included in the “Long-term debt” line on our consolidated balance sheet.

Changes in Equity

Changes in Equity	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Changes in Equity	Note 7—Changes in Equity Millions of Dollars Common Stock Par Value Capital in Excess of Par Treasury Stock Accum. Other Comprehensive Income (Loss) Retained Earnings Total For the three months ended September 30, 2022 Balances at June 30, 2022 $ 21 61,045 (54,644) (5,313) 49,093 50,202 Net income 4,527 4,527 Other comprehensive loss (552) (552) Dividends declared Ordinary ($0.46 per common share) (588) (588) Variable return of cash ($1.40 per common share) (1,754) (1,754) Repurchase of company common stock (2,799) (2,799) Distributed under benefit plans 44 44 Other (1) (1) Balances at September 30, 2022 $ 21 61,089 (57,444) (5,865) 51,278 49,079 For the nine months ended September 30, 2022 Balances at December 31, 2021 $ 21 60,581 (50,920) (4,950) 40,674 45,406 Net income 15,431 15,431 Other comprehensive loss (915) (915) Dividends declared Ordinary ($1.38 per common share) (1,789) (1,789) Variable return of cash ($2.40 per common share) (3,040) (3,040) Repurchase of company common stock (6,524) (6,524) Distributed under benefit plans 508 508 Other 2 2 Balances at September 30, 2022 $ 21 61,089 (57,444) (5,865) 51,278 49,079 Millions of Dollars Common Stock Par Value Capital in Excess of Par Treasury Stock Accum. Other Comprehensive Income (Loss) Retained Earnings Total For the three months ended September 30, 2021 Balances at June 30, 2021 $ 21 60,337 (48,278) (4,920) 37,116 44,276 Net income 2,379 2,379 Other comprehensive loss (203) (203) Dividends declared Ordinary ($0.89 per common share) (1,188) (1,188) Repurchase of company common stock (1,243) (1,243) Distributed under benefit plans 94 94 Balances at September 30, 2021 $ 21 60,431 (49,521) (5,123) 38,307 44,115 For the nine months ended September 30, 2021 Balances at December 31, 2020 $ 18 47,133 (47,297) (5,218) 35,213 29,849 Net income 5,452 5,452 Other comprehensive income 95 95 Dividends declared Ordinary ($1.75 per common share) (2,359) (2,359) Acquisition of Concho 3 13,122 13,125 Repurchase of company common stock (2,224) (2,224) Distributed under benefit plans 176 176 Other 1 1 Balances at September 30, 2021 $ 21 60,431 (49,521) (5,123) 38,307 44,115

Guarantees

Guarantees	9 Months Ended
	Sep. 30, 2022
Guarantees [Abstract]
Guarantees	Note 8—Guarantees At September 30, 2022, we were liable for certain contingent obligations under various contractual arrangements as described below. We recognize a liability, at inception, for the fair value of our obligation as a guarantor for newly issued or modified guarantees. Unless the carrying amount of the liability is noted below, we have not recognized a liability because the fair value of the obligation is immaterial. In addition, unless otherwise stated, we are not currently performing with any significance under the guarantee and expect future performance to be either immaterial or have only a remote chance of occurrence. APLNG Guarantees At September 30, 2022, we had outstanding multiple guarantees in connection with our 47.5 percent ownership interest in APLNG. The following is a description of the guarantees with values calculated utilizing September 2022 exchange rates: • During the third quarter of 2016, we issued a guarantee to facilitate the withdrawal of our pro-rata portion of the funds in a project finance reserve account. We estimate the remaining term of this guarantee is 8 years. Our maximum exposure under this guarantee is approximately $210 million and may become payable if an enforcement action is commenced by the project finance lenders against APLNG. At September 30, 2022, the carrying value of this guarantee was $14 million. • In conjunction with our original purchase of an ownership interest in APLNG from Origin Energy Limited in October 2008, we agreed to reimburse Origin Energy Limited for our share of the existing contingent liability arising under guarantees of an existing obligation of APLNG to deliver natural gas under several sales agreements. The final guarantee expires in the fourth quarter of 2041. Our maximum potential liability for future payments, or cost of volume delivery, under these guarantees is estimated to be $760 million ($1.3 billion in the event of intentional or reckless breach) and would become payable if APLNG fails to meet its obligations under these agreements and the obligations cannot otherwise be mitigated. Future payments are considered unlikely, as the payments, or cost of volume delivery, would only be triggered if APLNG does not have enough natural gas to meet these sales commitments and if the co-venturers do not make necessary equity contributions into APLNG. • We have guaranteed the performance of APLNG with regard to certain other contracts executed in connection with the project’s continued development. The guarantees have remaining terms of 14 to 23 years or the life of the venture. Our maximum potential amount of future payments related to these guarantees is approximately $280 million and would become payable if APLNG does not perform. At September 30, 2022, the carrying value of these guarantees was approximately $20 million. Other Guarantees We have other guarantees with maximum future potential payment amounts totaling approximately $600 million, which consist primarily of guarantees of the residual value of leased office buildings and guarantees of the residual value of corporate aircrafts. These guarantees have remaining terms of three Indemnifications Over the years, we have entered into agreements to sell ownership interests in certain legal entities, joint ventures and assets that gave rise to qualifying indemnifications. These agreements include indemnifications for taxes and environmental liabilities. The carrying amount recorded for these indemnification obligations at September 30, 2022, was $20 million. Those related to environmental issues have terms that are generally indefinite and the maximum amounts of future payments are generally unlimited. Although it is reasonably possible future payments may exceed amounts recorded, due to the nature of the indemnifications, it is not possible to make a reasonable estimate of the maximum potential amount of future payments. See Note for additional information about environmental liabilities.

Contingencies and Commitments

Contingencies and Commitments	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	Note 9—Contingencies and Commitments A number of lawsuits involving a variety of claims arising in the ordinary course of business have been filed against ConocoPhillips. We also may be required to remove or mitigate the effects on the environment of the placement, storage, disposal or release of certain chemical, mineral and petroleum substances at various active and inactive sites. We regularly assess the need for accounting recognition or disclosure of these contingencies. In the case of all known contingencies (other than those related to income taxes), we accrue a liability when the loss is probable and the amount is reasonably estimable. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the low end of the range is accrued. We do not reduce these liabilities for potential insurance or third-party recoveries. We accrue receivables for insurance or other third-party recoveries when applicable. With respect to income tax-related contingencies, we use a cumulative probability-weighted loss accrual in cases where sustaining a tax position is less than certain. Based on currently available information, we believe it is remote that future costs related to known contingent liability exposures will exceed current accruals by an amount that would have a material adverse impact on our consolidated financial statements. As we learn new facts concerning contingencies, we reassess our position both with respect to accrued liabilities and other potential exposures. Estimates particularly sensitive to future changes include contingent liabilities recorded for environmental remediation, tax and legal matters. Estimated future environmental remediation costs are subject to change due to such factors as the uncertain magnitude of cleanup costs, the unknown time and extent of such remedial actions that may be required, and the determination of our liability in proportion to that of other responsible parties. Estimated future costs related to tax and legal matters are subject to change as events evolve and as additional information becomes available during the administrative and litigation processes. Environmental We are subject to international, federal, state and local environmental laws and regulations and record accruals for environmental liabilities based on management’s best estimates. These estimates are based on currently available facts, existing technology, and presently enacted laws and regulations, taking into account stakeholder and business considerations. When measuring environmental liabilities, we also consider our prior experience in remediation of contaminated sites, other companies’ cleanup experience, and data released by the U.S. EPA or other organizations. We consider unasserted claims in our determination of environmental liabilities, and we accrue them in the period they are both probable and reasonably estimable. Although liability of those potentially responsible for environmental remediation costs is generally joint and several for federal sites and frequently so for other sites, we are usually only one of many companies cited at a particular site. Due to the joint and several liabilities, we could be responsible for all cleanup costs related to any site at which we have been designated as a potentially responsible party. We have been successful to date in sharing cleanup costs with other financially sound companies. Many of the sites at which we are potentially responsible are still under investigation by the EPA or the agency concerned. Prior to actual cleanup, those potentially responsible normally assess the site conditions, apportion responsibility and determine the appropriate remediation. In some instances, we may have no liability or may attain a settlement of liability. Where it appears that other potentially responsible parties may be financially unable to bear their proportional share, we consider this inability in estimating our potential liability, and we adjust our accruals accordingly. As a result of various acquisitions in the past, we assumed certain environmental obligations. Some of these environmental obligations are mitigated by indemnifications made by others for our benefit, and some of the indemnifications are subject to dollar limits and time limits. We are currently participating in environmental assessments and cleanups at numerous federal Superfund and comparable state and international sites. After an assessment of environmental exposures for cleanup and other costs, we make accruals on an undiscounted basis (except those acquired in a purchase business combination, which we record on a discounted basis) for planned investigation and remediation activities for sites where it is probable future costs will be incurred and these costs can be reasonably estimated. We have not reduced these accruals for possible insurance recoveries. At September 30, 2022, our balance sheet included a total environmental accrual of $182 million, compared with $187 million at December 31, 2021, for remediation activities in the U.S. and Canada. We expect to incur a substantial amount of these expenditures within the next 30 years. In the future, we may be involved in additional environmental assessments, cleanups and proceedings. Litigation and Other Contingencies We are subject to various lawsuits and claims including, but not limited to, matters involving oil and gas royalty and severance tax payments, gas measurement and valuation methods, contract disputes, environmental damages, climate change, personal injury, and property damage. Our primary exposures for such matters relate to alleged royalty and tax underpayments on certain federal, state and privately owned properties, claims of alleged environmental contamination and damages from historic operations, and climate change. We will continue to defend ourselves vigorously in these matters. Our legal organization applies its knowledge, experience and professional judgment to the specific characteristics of our cases, employing a litigation management process to manage and monitor the legal proceedings against us. Our process facilitates the early evaluation and quantification of potential exposures in individual cases. This process also enables us to track those cases that have been scheduled for trial and/or mediation. Based on professional judgment and experience in using these litigation management tools and available information about current developments in all our cases, our legal organization regularly assesses the adequacy of current accruals and determines if adjustment of existing accruals, or establishment of new accruals, is required. We have contingent liabilities resulting from throughput agreements with pipeline and processing companies not associated with financing arrangements. Under these agreements, we may be required to provide any such company with additional funds through advances and penalties for fees related to throughput capacity not utilized. In addition, at September 30, 2022, we had performance obligations secured by letters of credit of $261 million (issued as direct bank letters of credit) related to various purchase commitments for materials, supplies, commercial activities and services incident to the ordinary conduct of business. In 2007, ConocoPhillips was unable to reach agreement with respect to the empresa mixta structure mandated by the Venezuelan government’s Nationalization Decree. As a result, Venezuela’s national oil company, Petróleos de Venezuela, S.A. (PDVSA), or its affiliates, directly assumed control over ConocoPhillips’ interests in the Petrozuata and Hamaca heavy oil ventures and the offshore Corocoro development project. In response to this expropriation, ConocoPhillips initiated international arbitration on November 2, 2007, with the ICSID. On September 3, 2013, an ICSID arbitration tribunal held that Venezuela unlawfully expropriated ConocoPhillips’ significant oil investments in June 2007. On January 17, 2017, the Tribunal reconfirmed the decision that the expropriation was unlawful. In March 2019, the Tribunal unanimously ordered the government of Venezuela to pay ConocoPhillips approximately $8.7 billion in compensation for the government’s unlawful expropriation of the company’s investments in Venezuela in 2007. On August 29, 2019, the ICSID Tribunal issued a decision rectifying the award and reducing it by approximately $227 million. The award now stands at $8.5 billion plus interest. The government of Venezuela sought annulment of the award, which automatically stayed enforcement of the award. On September 29, 2021, the ICSID annulment committee lifted the stay of enforcement of the award. In 2014, ConocoPhillips filed a separate and independent arbitration under the rules of the ICC against PDVSA under the contracts that had established the Petrozuata and Hamaca projects. The ICC Tribunal issued an award in April 2018, finding that PDVSA owed ConocoPhillips approximately $2 billion under their agreements in connection with the expropriation of the projects and other pre-expropriation fiscal measures. In August 2018, ConocoPhillips entered into a settlement with PDVSA to recover the full amount of this ICC award, plus interest through the payment period, including initial payments totaling approximately $500 million within a period of 90 days from the time of signing of the settlement agreement. The balance of the settlement is to be paid quarterly over a period of four and a half years. Per the settlement, PDVSA recognized the ICC award as a judgment in various jurisdictions, and ConocoPhillips agreed to suspend its legal enforcement actions. ConocoPhillips sent notices of default to PDVSA on October 14 and November 12, 2019, and to date PDVSA has failed to cure its breach. As a result, ConocoPhillips has resumed legal enforcement actions. To date, ConocoPhillips has received approximately $772 million in connection with the ICC award. ConocoPhillips has ensured that the settlement and any actions taken in enforcement thereof meet all appropriate U.S. regulatory requirements, including those related to any applicable sanctions imposed by the U.S. against Venezuela. In 2016, ConocoPhillips filed a separate and independent arbitration under the rules of the ICC against PDVSA under the contracts that had established the Corocoro Project. On August 2, 2019, the ICC Tribunal awarded ConocoPhillips approximately $33 million plus interest under the Corocoro contracts. ConocoPhillips is seeking recognition and enforcement of the award in various jurisdictions. ConocoPhillips has ensured that all the actions related to the award meet all appropriate U.S. regulatory requirements, including those related to any applicable sanctions imposed by the U.S. against Venezuela. Beginning in 2017, governmental and other entities in several states in the U.S. have filed lawsuits against oil and gas companies, including ConocoPhillips, seeking compensatory damages and equitable relief to abate alleged climate change impacts. Additional lawsuits with similar allegations are expected to be filed. The amounts claimed by plaintiffs are unspecified and the legal and factual issues are unprecedented, therefore, there is significant uncertainty about the scope of the claims and alleged damages and any potential impact on the Company’s financial condition. ConocoPhillips believes these lawsuits are factually and legally meritless and are an inappropriate vehicle to address the challenges associated with climate change and will vigorously defend against such lawsuits. Several Louisiana parishes and the State of Louisiana have filed 43 lawsuits under Louisiana’s State and Local Coastal Resources Management Act (SLCRMA) against oil and gas companies, including ConocoPhillips, seeking compensatory damages for contamination and erosion of the Louisiana coastline allegedly caused by historical oil and gas operations. ConocoPhillips entities are defendants in 22 of the lawsuits and will vigorously defend against them. Defendants are seeking rehearing of a Fifth Circuit panel’s recent decision affirming the remand of these cases to Louisiana state court which operates to extend the stay of the remand order. Because Plaintiffs’ SLCRMA theories are unprecedented, there is uncertainty about these claims (both as to scope and damages) and we continue to evaluate our exposure in these lawsuits. In October 2020, the Bureau of Safety and Environmental Enforcement (BSEE) ordered the prior owners of Outer Continental Shelf (OCS) Lease P-0166, including ConocoPhillips, to decommission the lease facilities, including two offshore platforms located near Carpinteria, California. This order was sent after the current owner of OCS Lease P-0166 relinquished the lease and abandoned the lease platforms and facilities. BSEE’s order to ConocoPhillips is premised on its connection to Phillips Petroleum Company, a legacy company of ConocoPhillips, which held a historical 25 percent interest in this lease and operated these facilities but sold its interest approximately 30 years ago. ConocoPhillips is challenging the BSEE order but continues to evaluate its exposure in this matter. On May 10, 2021, ConocoPhillips filed arbitration under the rules of the Singapore International Arbitration Centre (SIAC) against Santos KOTN Pty Ltd. and Santos Limited for their failure to timely pay the $200 million bonus due upon final investment decision of the Barossa development project under the sale and purchase agreement. Santos KOTN Pty Ltd. and Santos Limited have filed a response and counterclaim. The arbitration is ongoing with a hearing scheduled in December 2022. In July 2021, a federal securities class action was filed against Concho, certain of Concho’s officers, and ConocoPhillips as Concho’s successor in the United States District Court for the Southern District of Texas. On October 21, 2021, the court issued an order appointing Utah Retirement Systems and the Construction Laborers Pension Trust for Southern California as lead plaintiffs (Lead Plaintiffs). On January 7, 2022, the Lead Plaintiffs filed their consolidated complaint alleging that Concho made materially false and misleading statements regarding its business and operations in violation of the federal securities laws and seeking unspecified damages, attorneys’ fees, costs, equitable/injunctive relief, and such other relief that may be deemed appropriate. We believe the allegations in the action are without merit and are vigorously defending this litigation.

Derivative and Financial Instru

Derivative and Financial Instruments	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative and Financial Instruments	Note 10—Derivative and Financial Instruments We use futures, forwards, swaps and options in various markets to meet our customer needs, capture market opportunities and manage foreign exchange currency risk. Commodity Derivative Instruments Our commodity business primarily consists of natural gas, crude oil, bitumen, LNG and NGLs. Commodity derivative instruments are held at fair value on our consolidated balance sheet. Where these balances have the right of setoff, they are presented on a net basis. Related cash flows are recorded as operating activities on our consolidated statement of cash flows. On our consolidated income statement, gains and losses are recognized either on a gross basis if directly related to our physical business or a net basis if held for trading. Gains and losses related to contracts that meet and are designated with the NPNS exception are recognized upon settlement. We generally apply this exception to eligible crude contracts and certain gas contracts. We do not apply hedge accounting for our commodity derivatives. The following table presents the gross fair values of our commodity derivatives, excluding collateral, and the line items where they appear on our consolidated balance sheet: Millions of Dollars September 30 December 31 Assets Prepaid expenses and other current assets $ 1,675 1,168 Other assets 267 75 Liabilities Other accruals 1,668 1,160 Other liabilities and deferred credits 220 63 The gains (losses) from commodity derivatives incurred and the line items where they appear on our consolidated income statement were: Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Sales and other operating revenues $ (129) (483) (549) (862) Other income (4) 7 (2) 23 Purchased commodities 6 405 352 550 During the first quarter of 2021, we recognized a $305 million loss on settlement of derivative contracts acquired through the Concho transaction. This loss is recorded within the “Sales and other operating revenues” line on our consolidated income statement. In connection with this settlement, we issued a cash payment of $692 million in the first quarter of 2021 and $69 million in the second quarter of 2021 which are included within “Cash Flows From Operating Activities” on our consolidated statement of cash flows. The table below summarizes our net exposures resulting from outstanding commodity derivative contracts: Open Position September 30 December 31 Commodity Natural gas and power (billions of cubic feet equivalent) Fixed price (18) 4 Basis (2) (22) Financial Instruments We invest in financial instruments with maturities based on our cash forecasts for the various accounts and currency pools we manage. The types of financial instruments in which we currently invest include: • Time deposits: Interest bearing deposits placed with financial institutions for a predetermined amount of time. • Demand deposits: Interest bearing deposits placed with financial institutions. Deposited funds can be withdrawn without notice. • Commercial paper: Unsecured promissory notes issued by a corporation, commercial bank or government agency purchased at a discount to mature at par. • U.S. government or government agency obligations: Securities issued by the U.S. government or U.S. government agencies. • Foreign government obligations: Securities issued by foreign governments. • Corporate bonds: Unsecured debt securities issued by corporations. • Asset-backed securities: Collateralized debt securities. The following investments are carried on our consolidated balance sheet at cost, plus accrued interest, and the table reflects remaining maturities at September 30, 2022, and December 31, 2021: Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments September 30 December 31 September 30 December 31 Cash $ 664 670 Demand Deposits 1,413 1,554 Time Deposits 1 to 90 days 5,843 2,363 1,591 217 91 to 180 days 137 4 Within one year 34 4 U.S. Government Obligations 1 to 90 days 23 431 — — $ 7,943 5,018 1,762 225 The following investments in debt securities classified as available for sale are carried at fair value on our consolidated balance sheet at September 30, 2022, and December 31, 2021: Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments Investments and Long-Term September 30 December 31 September 30 December 31 September 30 December 31 Major Security Type Corporate Bonds $ — 3 322 128 287 173 Commercial Paper 67 7 216 82 U.S. Government Obligations — — 101 — 68 2 U.S. Government Agency Obligations 8 2 — 8 Foreign Government Obligations 3 7 7 2 Asset-backed Securities — 2 118 63 $ 67 10 650 221 480 248 Cash and Cash Equivalents and Short-Term Investments have remaining maturities within one year. Investments and Long-Term Receivables have remaining maturities greater than one year through five years. The following table summarizes the amortized cost basis and fair value of investments in debt securities classified as available for sale: Millions of Dollars Amortized Cost Basis Fair Value September 30 December 31 September 30 December 31 Major Security Type Corporate Bonds $ 621 305 609 304 Commercial Paper 284 88 283 89 U.S. Government Obligations 172 2 169 2 U.S. Government Agency Obligations 8 10 8 10 Foreign Government Obligations 10 9 10 9 Asset-backed Securities 119 65 118 65 $ 1,214 479 1,197 479 As of September 30, 2022, and December 31, 2021, total unrealized losses for debt securities classified as available for sale with net losses were $17 million and negligible, respectively. No allowance for credit losses has been recorded on investments in debt securities which are in an unrealized loss position. Proceeds from sales and redemptions of investments in debt securities classified as available for sale were $198 million and $399 million for the three- and nine-month periods ended September 30, 2022, respectively; and $165 million and $485 million for the three- and nine-month periods ended September 30, 2021, respectively. Gross realized gains and losses included in earnings from those sales and redemptions were negligible. The cost of securities sold and redeemed is determined using the specific identification method. Credit Risk Financial instruments potentially exposed to concentrations of credit risk consist primarily of cash equivalents, short-term investments, long-term investments in debt securities, OTC derivative contracts and trade receivables. Our Cash Equivalents and Short-Term Investments are placed in high-quality commercial paper, government money market funds, U.S. government and government agency obligations, time deposits with major international banks and financial institutions, high-quality corporate bonds, foreign government obligations and asset-backed securities. Our long-term investments in debt securities are placed in high-quality corporate bonds, asset-backed securities, U.S. government and government agency obligations, and foreign government obligations. The credit risk from our OTC derivative contracts, such as forwards, swaps and options, derives from the counterparty to the transaction. Individual counterparty exposure is managed within predetermined credit limits and includes the use of cash-call margins when appropriate, thereby reducing the risk of significant nonperformance. We also use futures, swaps and option contracts that have a negligible credit risk because these trades are cleared primarily with an exchange clearinghouse and subject to mandatory margin requirements until settled; however, we are exposed to the credit risk of those exchange brokers for receivables arising from daily margin cash calls, as well as for cash deposited to meet initial margin requirements. Our trade receivables result primarily from our oil and gas operations and reflect a broad national and international customer base, which limits our exposure to concentrations of credit risk. The majority of these receivables have payment terms of 30 days or less, and we continually monitor this exposure and the creditworthiness of the counterparties. We may require collateral to limit the exposure to loss including letters of credit, prepayments and surety bonds, as well as master netting arrangements to mitigate credit risk with counterparties that both buy from and sell to us, as these agreements permit the amounts owed by us or owed to others to be offset against amounts due to us. Certain of our derivative instruments contain provisions that require us to post collateral if the derivative exposure exceeds a threshold amount. We have contracts with fixed threshold amounts and other contracts with variable threshold amounts that are contingent on our credit rating. The variable threshold amounts typically decline for lower credit ratings, while both the variable and fixed threshold amounts typically revert to zero if we fall below investment grade. Cash is the primary collateral in all contracts; however, many also permit us to post letters of credit as collateral, such as transactions administered through the New York Mercantile Exchange. The aggregate fair value of all derivative instruments with such credit risk-related contingent features that were in a liability position at September 30, 2022 and December 31, 2021, was $377 million and $281 million, respectively. For these instruments, collateral posted at September 30, 2022, was $4 million and no collateral was posted at December 31, 2021. If our credit rating had been downgraded below investment grade at September 30, 2022, we would have been required to post $314 million of additional collateral, either with cash or letters of credit.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement	Note 11—Fair Value Measurement We carry a portion of our assets and liabilities at fair value that are measured at the reporting date using an exit price (i.e., the price that would be received to sell an asset or paid to transfer a liability) and disclosed according to the quality of valuation inputs under the fair value hierarchy. The classification of an asset or liability is based on the lowest level of input significant to its fair value. Those that are initially classified as Level 3 are subsequently reported as Level 2 when the fair value derived from unobservable inputs is inconsequential to the overall fair value, or if corroborated market data becomes available. Assets and liabilities initially reported as Level 2 are subsequently reported as Level 3 if corroborated market data is no longer available. There were no material transfers into or out of Level 3 during the nine-month period ended September 30, 2022, nor during the year ended December 31, 2021. Recurring Fair Value Measurement Financial assets and liabilities reported at fair value on a recurring basis includes our investment in CVE common shares, our investments in debt securities classified as available for sale, and commodity derivatives. • Level 1 derivative assets and liabilities primarily represent exchange-traded futures and options that are valued using unadjusted prices available from the underlying exchange. Level 1 also includes our investment in common shares of CVE, which is valued using quotes for shares on the NYSE, and our investments in U.S. government obligations classified as available for sale debt securities, which are valued using exchange prices. • Level 2 derivative assets and liabilities primarily represent OTC swaps, options and forward purchase and sale contracts that are valued using adjusted exchange prices, prices provided by brokers or pricing service companies that are all corroborated by market data. Level 2 also includes our investments in debt securities classified as available for sale including investments in corporate bonds, commercial paper, asset-backed securities, U.S. government agency obligations and foreign government obligations that are valued using pricing provided by brokers or pricing service companies that are corroborated with market data. • Level 3 derivative assets and liabilities consist of OTC swaps, options and forward purchase and sale contracts where a significant portion of fair value is calculated from underlying market data that is not readily available. The derived value uses industry standard methodologies that may consider the historical relationships among various commodities, modeled market prices, time value, volatility factors and other relevant economic measures. The use of these inputs results in management’s best estimate of fair value. Level 3 activity was not material for all periods presented. The following table summarizes the fair value hierarchy for gross financial assets and liabilities (i.e., unadjusted where the right of setoff exists for commodity derivatives accounted for at fair value on a recurring basis): Millions of Dollars September 30, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Investment in Cenovus Energy $ — — — — 1,117 — — 1,117 Investments in debt securities 169 1,028 — 1,197 2 477 — 479 Commodity derivatives 919 977 46 1,942 562 619 62 1,243 Total assets $ 1,088 2,005 46 3,139 1,681 1,096 62 2,839 Liabilities Commodity derivatives $ 927 772 189 1,888 593 543 87 1,223 Total liabilities $ 927 772 189 1,888 593 543 87 1,223 The following table summarizes those commodity derivative balances subject to the right of setoff as presented on our consolidated balance sheet. We have elected to offset the recognized fair value amounts for multiple derivative instruments executed with the same counterparty in our financial statements when a legal right of setoff exists. Millions of Dollars Amounts Subject to Right of Setoff Gross Amounts Recognized Amounts Not Subject to Right of Setoff Gross Amounts Gross Amounts Offset Net Amounts Presented Cash Collateral Net Amounts September 30, 2022 Assets $ 1,942 11 1,931 1,099 832 1 831 Liabilities 1,888 2 1,886 1,099 787 32 755 December 31, 2021 Assets $ 1,243 85 1,158 650 508 — 508 Liabilities 1,223 82 1,141 650 491 36 455 At September 30, 2022 and December 31, 2021, we did not present any amounts gross on our consolidated balance sheet where we had the right of setoff. Reported Fair Values of Financial Instruments We used the following methods and assumptions to estimate the fair value of financial instruments: • Cash and cash equivalents and short-term investments: The carrying amount reported on the balance sheet approximates fair value. For those investments classified as available for sale debt securities, the carrying amount reported on the balance sheet is fair value. • Accounts and notes receivable (including long-term and related parties): The carrying amount reported on the balance sheet approximates fair value. The valuation technique and methods used to estimate the fair value of the current portion of fixed-rate related party loans is consistent with Loans and advances— related parties. • Investment in Cenovus Energy: See Note for a discussion of the carrying value and fair value of our investment in CVE common shares. • Investments in debt securities classified as available for sale: The fair value of investments in debt securities categorized as Level 1 in the fair value hierarchy is measured using exchange prices. The fair value of investments in debt securities categorized as Level 2 in the fair value hierarchy is measured using pricing provided by brokers or pricing service companies that are corroborated with market data. See Note . • Loans and advances—related parties: The carrying amount of floating-rate loans approximates fair value. The fair value of fixed-rate loan activity is measured using market observable data and is categorized as Level 2 in the fair value hierarchy. See Note . • Accounts payable (including related parties) and floating-rate debt: The carrying amount of accounts payable and floating-rate debt reported on the balance sheet approximates fair value. • Fixed-rate debt: The estimated fair value of fixed-rate debt is measured using prices available from a pricing service that is corroborated by market data; therefore, these liabilities are categorized as Level 2 in the fair value hierarchy. • Commercial paper: The carrying amount of our commercial paper instruments approximates fair value and is reported on the balance sheet as short-term debt. The following table summarizes the net fair value of financial instruments (i.e., adjusted where the right of setoff exists for commodity derivatives): Millions of Dollars Carrying Amount Fair Value September 30 December 31 September 30 December 31 Financial assets Investment in CVE common shares $ — 1,117 — 1,117 Commodity derivatives 842 593 842 593 Investments in debt securities 1,197 479 1,197 479 Loans and advances—related parties — 114 — 114 Financial liabilities Total debt, excluding finance leases 15,679 18,673 15,755 22,451 Commodity derivatives 757 537 757 537

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	Note 12—Accumulated Other Comprehensive Loss Accumulated other comprehensive loss in the equity section of our consolidated balance sheet includes: Millions of Dollars Defined Benefit Plans Net Unrealized Loss on Securities Foreign Currency Translation Accumulated Other Comprehensive Loss December 31, 2021 $ (31) — (4,919) (4,950) Other comprehensive loss (61) (13) (841) (915) September 30, 2022 $ (92) (13) (5,760) (5,865) The following table summarizes reclassifications out of accumulated other comprehensive loss and into net income (loss): Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Defined benefit plans $ 6 29 22 83 The above amounts are included in the computation of net periodic benefit cost and are presented net of tax expense of $1 million and $7 million for the three-month periods ended September 30, 2022 and September 30, 2021, respectively, and $6 million and $22 million for the nine-month periods ended September 30, 2022 and September 30, 2021, respectively. See Note .

Cash Flow Information

Cash Flow Information	9 Months Ended
	Sep. 30, 2022
Supplemental Cash Flow Information [Abstract]
Cash Flow Information	Note 13—Cash Flow Information Millions of Dollars Nine Months Ended September 30 Cash Payments 2022 2021 Interest $ 706 695 Income taxes 5,602 358 Net Sales (Purchases) of Investments Short-term investments purchased $ (2,960) (5,487) Short-term investments sold 1,297 8,478 Long-term investments purchased (640) (228) Long-term investments sold 68 83 $ (2,235) 2,846 Income tax payments have increased in the first nine months of 2022 as the company is returning to a tax paying position in the U.S. as well as timing of foreign tax payments primarily in Libya and Norway. In the first quarter of 2021, we acquired Concho in an all-stock transa ction fo r $13.1 billion . In connection with this transaction, we acquired cash of $382 million, which is included in "Cash Flows From Investing Activities" on our consolidated statement of cash flows.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Employee Benefit Plans	Note 14—Employee Benefit Plans Pension and Postretirement Plans Millions of Dollars Pension Benefits Other Benefits 2022 2021 2022 2021 U.S. Int'l. U.S. Int'l. Components of Net Periodic Benefit Cost Three Months Ended September 30 Service cost $ 13 13 17 15 — — Interest cost 18 19 12 19 1 1 Expected return on plan assets (10) (31) (22) (30) Amortization of prior service credit — (1) — — (9) (9) Recognized net actuarial loss 6 2 9 8 — — Settlements 9 — 28 — Net periodic benefit cost $ 36 2 44 12 (8) (8) Nine Months Ended September 30 Service cost $ 45 39 56 46 1 1 Interest cost 42 61 40 59 3 3 Expected return on plan assets (36) (99) (66) (90) Amortization of prior service credit — (1) — — (29) (28) Recognized net actuarial loss 17 6 36 24 — 1 Settlements 31 — 72 — Curtailments — — 12 — — — Special Termination Benefits — — 9 — — — Net periodic benefit cost $ 99 6 159 39 (25) (23) The components of net periodic benefit cost, other than the service cost component, are included in the "Other expenses" line of our consolidated income statement. During the first nine m onths of 2022, we contributed $68 million to our domestic benefit plans and $93 million to our international benefit plans. We expect our total contributions in 2022 to be approximately $95 million to our domestic qualified and nonqualified pension and postretirement benefit plans and $100 million to our international qualified and nonqualified pension and postretirement benefit plans. We recognized a proportionate share of prior actuarial losses from other comprehensive income as pension settlement expense of $9 million and $31 million during the three- and nine-month periods ended September 30, 2022, respectively. In conjunction with the recognition of pension settlement expense, the fair market values of the pension plan assets were updated and the pension benefit obligations of the U.S. qualified pension plan and the U.S. nonqualified supplemental retirement plan were remeasured at September 30, 2022. At the measurement date, the net pension liability increased by $23 million, primarily a result of lower than premised return on assets, partially offset by an increase in the discount rate, resulting in a corresponding decrease to other comprehensive income. The relevant assumptions are summarized in the following table: September 30 December 31 Expected return on plan assets (U.S. qualified pension plan) 5.30 % 3.40 Relevant discount rates U.S. qualified pension plan 5.65 % 2.85 U.S. nonqualified pension plan 5.60 2.50

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Note 15—Related Party Transactions Our related parties primarily include equity method investments and certain trusts for the benefit of employees. Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 Significant Transactions with Equity Affiliates 2022 2021 2022 2021 Operating revenues and other income $ 21 22 64 63 Purchases — 1 1 5 Operating expenses and selling, general and administrative expenses 55 45 145 135 Net interest (income) expense* — — (1) (2) *We paid interest to, or received interest from, various affiliates . See Note for information related to loans to equity affiliates.

Sales and Other Operating Reven

Sales and Other Operating Revenues	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Sales and Other Operating Revenues	Note 16—Sales and Other Operating Revenues Revenue from Contracts with Customers The following table provides further disaggregation of our consolidated sales and other operating revenues: Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Revenue from contracts with customers $ 15,968 8,880 47,202 23,794 Revenue from contracts outside the scope of ASC Topic 606 Physical contracts meeting the definition of a derivative 5,012 2,620 12,563 7,348 Financial derivative contracts 33 (174) 171 (434) Consolidated sales and other operating revenues $ 21,013 11,326 59,936 30,708 Revenues from contracts outside the scope of ASC Topic 606 relate primarily to physical gas contracts at market prices which qualify as derivatives accounted for under ASC Topic 815, “Derivatives and Hedging,” and for which we have not elected NPNS. There is no significant difference in contractual terms or the policy for recognition of revenue from these contracts and those within the scope of ASC Topic 606. The following disaggregation of revenues is provided in conjunction with Note —Segment Disclosures and Related Information: Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Revenue from Outside the Scope of ASC Topic 606 by Segment Lower 48 $ 4,275 2,123 10,202 5,934 Canada 553 266 1,920 776 Europe, Middle East and North Africa 184 231 441 638 Physical contracts meeting the definition of a derivative $ 5,012 2,620 12,563 7,348 Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Revenue from Outside the Scope of ASC Topic 606 by Product Crude oil $ 147 215 430 517 Natural gas 4,355 2,192 11,382 6,423 Other 510 213 751 408 Physical contracts meeting the definition of a derivative $ 5,012 2,620 12,563 7,348 Practical Expedients Typically, our commodity sales contracts are less than 12 months in duration; however, in certain specific cases they may extend longer, which may be out to the end of field life. We have long-term commodity sales contracts which use prevailing market prices at the time of delivery, and under these contracts, the market-based variable consideration for each performance obligation (i.e., delivery of commodity) is allocated to each wholly unsatisfied performance obligation within the contract. Accordingly, we have applied the practical expedient allowed in ASC Topic 606 and do not disclose the aggregate amount of the transaction price allocated to performance obligations or when we expect to recognize revenues that are unsatisfied (or partially unsatisfied) as of the end of the reporting period. Receivables and Contract Liabilities Receivables from Contracts with Customers At September 30, 2022, the “Accounts and notes receivable” line on our consolidated balance sheet includes trade receivables of $5,701 million compared with $5,268 million at December 31, 2021, and includes both contracts with customers within the scope of ASC Topic 606 and those that are outside the scope of ASC Topic 606. We typically receive payment within 30 days or less (depending on the terms of the invoice) once delivery is made. Revenues that are outside the scope of ASC Topic 606 relate primarily to physical gas sales contracts at market prices for which we do not elect NPNS and are therefore accounted for as a derivative under ASC Topic 815. There is little distinction in the nature of the customer or credit quality of trade receivables associated with gas sold under contracts for which NPNS has not been elected compared to trade receivables where NPNS has been elected. Contract Liabilities from Contracts with Customers We have entered into certain agreements under which we license our proprietary technology, including the Optimized Cascade® process technology, to customers to maximize the efficiency of LNG plants. These agreements typically provide for milestone payments to be made during and after the construction phases of the LNG plant. The payments are not directly related to our performance obligations under the contract and are recorded as deferred revenue to be recognized when the customer is able to benefit from their right to use the applicable licensed technology. Millions of Dollars Contract Liabilities At December 31, 2021 $ 50 Contractual payments received 25 Revenue recognized (56) At September 30, 2022 $ 19 For the nine-month period ended September 30, 2022, we recognized revenue of $56 million in the "Sales and other operating revenues" line on our consolidated income statement. No revenue was recognized during the three-month period ended September 30, 2022. We expect to recognize the contract liabilities as of September 30, 2022, as revenue in 2026.

Segment Disclosures and Related

Segment Disclosures and Related Information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Disclosures and Related Information	Note 17—Segment Disclosures and Related Information We explore for, produce, transport and market crude oil, bitumen, natural gas, LNG and NGLs on a worldwide basis. We manage our operations through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International. Corporate and Other represents income and costs not directly associated with an operating segment, such as most interest income and expense; premiums on early retirement of debt; corporate overhead and certain technology activities, including licensing revenues; and unrealized holding gains or losses on equity securities. Corporate assets include all cash and cash equivalents and short-term investments. We evaluate performance and allocate resources based on net income (loss). Intersegment sales are at prices that approximate market. Analysis of Results by Operating Segment Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Sales and Other Operating Revenues Alaska $ 1,984 1,395 6,251 3,946 Lower 48 14,287 7,566 40,302 19,968 Intersegment eliminations (2) (1) (15) (5) Lower 48 14,285 7,565 40,287 19,963 Canada 1,348 967 4,662 2,636 Intersegment eliminations (583) (406) (1,960) (1,063) Canada 765 561 2,702 1,573 Europe, Middle East and North Africa 3,361 1,127 8,602 3,270 Asia Pacific 617 673 2,005 1,880 Other International — 1 — 4 Corporate and Other 1 4 89 72 Consolidated sales and other operating revenues $ 21,013 11,326 59,936 30,708 Sales and Other Operating Revenues by Geographic Location (1) United States $ 16,269 8,963 46,624 23,978 Canada 764 561 2,702 1,573 China 273 193 847 519 Indonesia — 231 159 634 Libya 317 313 1,099 833 Malaysia 345 249 999 727 Norway 1,042 678 2,711 1,708 United Kingdom 2,002 136 4,792 729 Other foreign countries 1 2 3 7 Worldwide consolidated $ 21,013 11,326 59,936 30,708 Sales and Other Operating Revenues by Product Crude oil $ 10,353 6,433 31,717 16,725 Natural gas 8,295 4,099 21,560 11,422 Natural gas liquids 989 414 2,909 976 Other (2) 1,376 380 3,750 1,585 Consolidated sales and other operating revenues by product $ 21,013 11,326 59,936 30,708 (1) Sales and other operating revenues are attributable to countries based on the location of the selling operation. (2) Includes LNG and bitumen. Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Net Income (Loss) Alaska $ 580 405 1,851 935 Lower 48 2,653 1,631 9,024 3,274 Canada 119 155 726 267 Europe, Middle East and North Africa 922 241 1,719 601 Asia Pacific 520 257 2,181 749 Other International (28) (97) (28) (106) Corporate and Other (239) (213) (42) (268) Consolidated net income $ 4,527 2,379 15,431 5,452 Millions of Dollars September 30 December 31 Total Assets Alaska $ 14,787 14,812 Lower 48 42,912 41,699 Canada 6,747 7,439 Europe, Middle East and North Africa 8,259 9,125 Asia Pacific 9,996 9,840 Other International 4 1 Corporate and Other 12,132 7,745 Consolidated net income $ 94,837 90,661

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 18—Income Taxes Our effective tax rate for the three-month periods ended September 30, 2022 and 2021 was 39.2 percent and 33.6 percent, respectively, and our effective tax rate for the nine-month periods ended September 30, 2022 and 2021 was 32.9 percent and 34.9 percent, respectively. Our effective tax rate for the first nine months of 2022 was impacted by the shift of income among our taxing jurisdictions, the release of tax reserves related to the closing of an IRS audit, a change to our valuation allowance and the impact of the interest deduction related to our debt exchange, as described below. In the first quarter of 2022, the IRS closed the 2017 audit of our U.S. federal income tax return. As a result, we recognized federal and state tax benefits totaling $515 million relating to the recovery of outside tax basis previously offset by a full reserve. During the second quarter of 2022, Norway enacted changes to the Petroleum Tax System. As a result of the enactment, a valuation allowance of $58 million was recorded during the second quarter to reflect changes to our ability to realize certain deferred tax assets under the new law. For the nine-month period of 2022, our valuation allowance increased by $5 million, compared to a decrease of $156 million for the same period of 2021. The increase in the nine-month period of 2022 relates to the Norway tax law change described above. In addition, our nine-month periods of 2022 and 2021 include impacts from changes in our valuation allowance related to the fair value measurement of our CVE common shares and our expectation of the tax impact related to incremental capital gains and losses. See Note . Our 2022 and 2021 effective tax rates were adversely impacted by $37 million and $75 million, respectively, due to incremental interest deductions from debt exchanges in both periods offsetting U.S. foreign source revenue that would otherwise have been offset by foreign tax credits. See Note . On August 16, 2022, the U.S. enacted the Inflation Reduction Act of 2022, which, among other things, implements a 15 percent minimum tax on book income of certain large corporations, a 1 percent excise tax on net stock repurchases and several tax incentives to promote lower carbon energy. We are continuing to evaluate the impacts of this legislation; however, we do not believe any impacts will be material to our consolidated financial statements. The Company has ongoing income tax audits in a number of jurisdictions. The government agents in charge of these audits regularly request additional time to complete audits, which we generally grant, and conversely occasionally close audits unpredictably. Within the next twelve months, we may have audit periods close that could significantly impact our total unrecognized tax benefits. The amount of such change is not estimable but could be significant when compared with our total unrecognized tax benefits.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The interim-period financial information presented in the financial statements included in this report is unaudited and, in the opinion of management, includes all known accruals and adjustments necessary for a fair presentation of the consolidated financial position of ConocoPhillips, its results of operations and cash flows for such periods. All such adjustments are of a normal and recurring nature unless otherwise disclosed. Certain notes and other information have been condensed or omitted from the interim financial statements included in this report. Therefore, these financial statements should be read in conjunction with the consolidated financial statements and notes included in our 2021 Annual Report on Form 10-K.
Practical Expedients	Practical Expedients Typically, our commodity sales contracts are less than 12 months in duration; however, in certain specific cases they may extend longer, which may be out to the end of field life. We have long-term commodity sales contracts which use prevailing market prices at the time of delivery, and under these contracts, the market-based variable consideration for each performance obligation (i.e., delivery of commodity) is allocated to each wholly unsatisfied performance obligation within the contract. Accordingly, we have applied the practical expedient allowed in ASC Topic 606 and do not disclose the aggregate amount of the transaction price allocated to performance obligations or when we expect to recognize revenues that are unsatisfied (or partially unsatisfied) as of the end of the reporting period.
Receivables and Contract Liabilities	Receivables and Contract Liabilities Receivables from Contracts with Customers At September 30, 2022, the “Accounts and notes receivable” line on our consolidated balance sheet includes trade receivables of $5,701 million compared with $5,268 million at December 31, 2021, and includes both contracts with customers within the scope of ASC Topic 606 and those that are outside the scope of ASC Topic 606. We typically receive payment within 30 days or less (depending on the terms of the invoice) once delivery is made. Revenues that are outside the scope of ASC Topic 606 relate primarily to physical gas sales contracts at market prices for which we do not elect NPNS and are therefore accounted for as a derivative under ASC Topic 815. There is little distinction in the nature of the customer or credit quality of trade receivables associated with gas sold under contracts for which NPNS has not been elected compared to trade receivables where NPNS has been elected. Contract Liabilities from Contracts with Customers We have entered into certain agreements under which we license our proprietary technology, including the Optimized Cascade® process technology, to customers to maximize the efficiency of LNG plants. These agreements typically provide for milestone payments to be made during and after the construction phases of the LNG plant. The payments are not directly related to our performance obligations under the contract and are recorded as deferred revenue to be recognized when the customer is able to benefit from their right to use the applicable licensed technology.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories	Millions of Dollars September 30 December 31 2021 Crude oil and natural gas $ 650 647 Materials and supplies 576 561 Total Inventories $ 1,226 1,208 Inventories valued on the LIFO basis $ 389 395

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combination, Asset Acquisition And Dispositions [Abstract]
Schedule of Business Acquisition	Assets Acquired Millions of Dollars Accounts receivable, net $ 337 Inventories 20 Net properties, plants and equipment 8,582 Other assets 50 Total assets acquired $ 8,989 Liabilities Assumed Accounts payable $ 206 Accrued income and other taxes 6 Other accruals 20 Asset retirement obligations and accrued environmental costs 86 Other liabilities and deferred credits 36 Total liabilities assumed $ 354 Net assets acquired $ 8,635
Business Acquisition, Pro Forma Information (unaudited)	The following table summarizes the unaudited supplemental pro forma financial information for the three- and nine-month periods ended September 30, 2021, as if we had completed the acquisition of Shell's Permian assets on January 1, 2020: Millions of Dollars Three Months Ended Nine Months Ended Supplemental Pro Forma (unaudited) As Reported Pro forma Shell Pro forma Combined As Reported Pro forma Shell Pro forma Combined Total Revenues and Other Income 11,616 882 12,498 32,386 2,277 34,663 Income before income taxes 3,582 364 3,946 8,376 780 9,156 Net Income 2,379 279 2,658 5,452 597 6,049 Earnings per share ($ per share): Basic net income $ 1.78 1.99 4.10 4.55 Diluted net income 1.78 1.98 4.09 4.54

Investment in Cenovus Energy (T

Investment in Cenovus Energy (Tables)	9 Months Ended
	Sep. 30, 2022
Cenovus Energy Inc
Debt and Equity Securities, FV-NI [Line Items]
Schedule of Gains and Losses Recorded in Other Income (Loss)	Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Total Net gain on equity securities $ — 17 251 743 Less: Net gain (loss) on equity securities sold during the period — (50) 251 177 Unrealized gain on equity securities still held at the reporting date $ — 67 $ — 566

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Millions of Dollars September 30 December 31 2021 2.4% Notes due 2022 $ 329 329 7.65% Debentures due 2023 78 78 3.35% Notes due 2024 426 426 2.125% Notes due 2024 900 — 8.2% Notes due 2025 134 134 3.35% Debentures due 2025 199 199 2.4% Notes due 2025 900 — 6.875% Debentures due 2026 67 67 4.95% Notes due 2026 — 1,250 7.8% Debentures due 2027 203 203 3.75% Notes due 2027 196 1,000 4.3% Notes due 2028 223 1,000 7.375% Debentures due 2029 92 92 7% Debentures due 2029 112 200 6.95% Notes due 2029 1,195 1,549 8.125% Notes due 2030 390 390 7.4% Notes due 2031 382 500 7.25% Notes due 2031 400 500 7.2% Notes due 2031 447 575 2.4% Notes due 2031 227 500 5.9% Notes due 2032 505 505 4.15% Notes due 2034 246 246 5.95% Notes due 2036 326 500 5.951% Notes due 2037 645 645 5.9% Notes due 2038 350 600 6.5% Notes due 2039 1,588 2,750 3.758% Notes due 2042 785 — 4.3% Notes due 2044 750 750 5.95% Notes due 2046 329 500 7.9% Debentures due 2047 60 60 4.875% Notes due 2047 319 800 4.85% Notes due 2048 219 600 3.8% Notes due 2052 1,100 — 4.025% Notes due 2062 1,770 — Floating rate notes due 2022 at 1.06% – 1.41% during 2022 and 1.02% –1.12% during 2021 — 500 Marine Terminal Revenue Refunding Bonds due 2031 at 0.07% – 2.55% during 2022 and 0.04% – 0.15% during 2021 265 265 Industrial Development Bonds due 2035 at 0.07% – 2.55% during 2022 and 0.04% – 0.12% during 2021 18 18 Other 31 35 Debt at face value 16,206 17,766 Finance leases 1,282 1,261 Net unamortized premiums, discounts and debt issuance costs (527) 907 Total debt 16,961 19,934 Short-term debt (664) (1,200) Long-term debt $ 16,297 18,734

Changes in Equity (Tables)

Changes in Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Schedule of Changes in Equity	Millions of Dollars Common Stock Par Value Capital in Excess of Par Treasury Stock Accum. Other Comprehensive Income (Loss) Retained Earnings Total For the three months ended September 30, 2022 Balances at June 30, 2022 $ 21 61,045 (54,644) (5,313) 49,093 50,202 Net income 4,527 4,527 Other comprehensive loss (552) (552) Dividends declared Ordinary ($0.46 per common share) (588) (588) Variable return of cash ($1.40 per common share) (1,754) (1,754) Repurchase of company common stock (2,799) (2,799) Distributed under benefit plans 44 44 Other (1) (1) Balances at September 30, 2022 $ 21 61,089 (57,444) (5,865) 51,278 49,079 For the nine months ended September 30, 2022 Balances at December 31, 2021 $ 21 60,581 (50,920) (4,950) 40,674 45,406 Net income 15,431 15,431 Other comprehensive loss (915) (915) Dividends declared Ordinary ($1.38 per common share) (1,789) (1,789) Variable return of cash ($2.40 per common share) (3,040) (3,040) Repurchase of company common stock (6,524) (6,524) Distributed under benefit plans 508 508 Other 2 2 Balances at September 30, 2022 $ 21 61,089 (57,444) (5,865) 51,278 49,079 Millions of Dollars Common Stock Par Value Capital in Excess of Par Treasury Stock Accum. Other Comprehensive Income (Loss) Retained Earnings Total For the three months ended September 30, 2021 Balances at June 30, 2021 $ 21 60,337 (48,278) (4,920) 37,116 44,276 Net income 2,379 2,379 Other comprehensive loss (203) (203) Dividends declared Ordinary ($0.89 per common share) (1,188) (1,188) Repurchase of company common stock (1,243) (1,243) Distributed under benefit plans 94 94 Balances at September 30, 2021 $ 21 60,431 (49,521) (5,123) 38,307 44,115 For the nine months ended September 30, 2021 Balances at December 31, 2020 $ 18 47,133 (47,297) (5,218) 35,213 29,849 Net income 5,452 5,452 Other comprehensive income 95 95 Dividends declared Ordinary ($1.75 per common share) (2,359) (2,359) Acquisition of Concho 3 13,122 13,125 Repurchase of company common stock (2,224) (2,224) Distributed under benefit plans 176 176 Other 1 1 Balances at September 30, 2021 $ 21 60,431 (49,521) (5,123) 38,307 44,115

Derivative and Financial Inst_2

Derivative and Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Balance Sheet Location and Fair Value Amounts of Derivatives	The following table presents the gross fair values of our commodity derivatives, excluding collateral, and the line items where they appear on our consolidated balance sheet: Millions of Dollars September 30 December 31 Assets Prepaid expenses and other current assets $ 1,675 1,168 Other assets 267 75 Liabilities Other accruals 1,668 1,160 Other liabilities and deferred credits 220 63
Schedule of Income Statement Location and Gain (Loss) Amounts of Derivatives	The gains (losses) from commodity derivatives incurred and the line items where they appear on our consolidated income statement were: Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Sales and other operating revenues $ (129) (483) (549) (862) Other income (4) 7 (2) 23 Purchased commodities 6 405 352 550
Schedule of Net Exposures from Outstanding Commodity Derivative Contracts	The table below summarizes our net exposures resulting from outstanding commodity derivative contracts: Open Position September 30 December 31 Commodity Natural gas and power (billions of cubic feet equivalent) Fixed price (18) 4 Basis (2) (22)
Schedule of Net Carrying Amount of Held to Maturity Investments	The following investments are carried on our consolidated balance sheet at cost, plus accrued interest, and the table reflects remaining maturities at September 30, 2022, and December 31, 2021: Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments September 30 December 31 September 30 December 31 Cash $ 664 670 Demand Deposits 1,413 1,554 Time Deposits 1 to 90 days 5,843 2,363 1,591 217 91 to 180 days 137 4 Within one year 34 4 U.S. Government Obligations 1 to 90 days 23 431 — — $ 7,943 5,018 1,762 225
Schedule of Debt Securities Carried at Fair Value	The following investments in debt securities classified as available for sale are carried at fair value on our consolidated balance sheet at September 30, 2022, and December 31, 2021: Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments Investments and Long-Term September 30 December 31 September 30 December 31 September 30 December 31 Major Security Type Corporate Bonds $ — 3 322 128 287 173 Commercial Paper 67 7 216 82 U.S. Government Obligations — — 101 — 68 2 U.S. Government Agency Obligations 8 2 — 8 Foreign Government Obligations 3 7 7 2 Asset-backed Securities — 2 118 63 $ 67 10 650 221 480 248 The following table summarizes the amortized cost basis and fair value of investments in debt securities classified as available for sale: Millions of Dollars Amortized Cost Basis Fair Value September 30 December 31 September 30 December 31 Major Security Type Corporate Bonds $ 621 305 609 304 Commercial Paper 284 88 283 89 U.S. Government Obligations 172 2 169 2 U.S. Government Agency Obligations 8 10 8 10 Foreign Government Obligations 10 9 10 9 Asset-backed Securities 119 65 118 65 $ 1,214 479 1,197 479

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value Hierarchy for Gross Financial Assets and Liabilities	The following table summarizes the fair value hierarchy for gross financial assets and liabilities (i.e., unadjusted where the right of setoff exists for commodity derivatives accounted for at fair value on a recurring basis): Millions of Dollars September 30, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Investment in Cenovus Energy $ — — — — 1,117 — — 1,117 Investments in debt securities 169 1,028 — 1,197 2 477 — 479 Commodity derivatives 919 977 46 1,942 562 619 62 1,243 Total assets $ 1,088 2,005 46 3,139 1,681 1,096 62 2,839 Liabilities Commodity derivatives $ 927 772 189 1,888 593 543 87 1,223 Total liabilities $ 927 772 189 1,888 593 543 87 1,223
Schedule of Commodity Derivative Balances Subject to Right of Setoff	The following table summarizes those commodity derivative balances subject to the right of setoff as presented on our consolidated balance sheet. We have elected to offset the recognized fair value amounts for multiple derivative instruments executed with the same counterparty in our financial statements when a legal right of setoff exists. Millions of Dollars Amounts Subject to Right of Setoff Gross Amounts Recognized Amounts Not Subject to Right of Setoff Gross Amounts Gross Amounts Offset Net Amounts Presented Cash Collateral Net Amounts September 30, 2022 Assets $ 1,942 11 1,931 1,099 832 1 831 Liabilities 1,888 2 1,886 1,099 787 32 755 December 31, 2021 Assets $ 1,243 85 1,158 650 508 — 508 Liabilities 1,223 82 1,141 650 491 36 455
Schedule of Net Fair Value of Financial Instruments	The following table summarizes the net fair value of financial instruments (i.e., adjusted where the right of setoff exists for commodity derivatives): Millions of Dollars Carrying Amount Fair Value September 30 December 31 September 30 December 31 Financial assets Investment in CVE common shares $ — 1,117 — 1,117 Commodity derivatives 842 593 842 593 Investments in debt securities 1,197 479 1,197 479 Loans and advances—related parties — 114 — 114 Financial liabilities Total debt, excluding finance leases 15,679 18,673 15,755 22,451 Commodity derivatives 757 537 757 537

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Components of Accumulated Other Comprehensive Loss in the Equity Section of the Balance Sheet	Accumulated other comprehensive loss in the equity section of our consolidated balance sheet includes: Millions of Dollars Defined Benefit Plans Net Unrealized Loss on Securities Foreign Currency Translation Accumulated Other Comprehensive Loss December 31, 2021 $ (31) — (4,919) (4,950) Other comprehensive loss (61) (13) (841) (915) September 30, 2022 $ (92) (13) (5,760) (5,865)
Schedule of Items Reclassified out of Accumulated Other Comprehensive Income (Loss)	The following table summarizes reclassifications out of accumulated other comprehensive loss and into net income (loss): Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Defined benefit plans $ 6 29 22 83 The above amounts are included in the computation of net periodic benefit cost and are presented net of tax expense of $1 million and $7 million for the three-month periods ended September 30, 2022 and September 30, 2021, respectively, and $6 million and $22 million for the nine-month periods ended September 30, 2022 and September 30, 2021, respectively. See Note .

Cash Flow Information (Tables)

Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2022
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow Information	Millions of Dollars Nine Months Ended September 30 Cash Payments 2022 2021 Interest $ 706 695 Income taxes 5,602 358 Net Sales (Purchases) of Investments Short-term investments purchased $ (2,960) (5,487) Short-term investments sold 1,297 8,478 Long-term investments purchased (640) (228) Long-term investments sold 68 83 $ (2,235) 2,846

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit Cost	Millions of Dollars Pension Benefits Other Benefits 2022 2021 2022 2021 U.S. Int'l. U.S. Int'l. Components of Net Periodic Benefit Cost Three Months Ended September 30 Service cost $ 13 13 17 15 — — Interest cost 18 19 12 19 1 1 Expected return on plan assets (10) (31) (22) (30) Amortization of prior service credit — (1) — — (9) (9) Recognized net actuarial loss 6 2 9 8 — — Settlements 9 — 28 — Net periodic benefit cost $ 36 2 44 12 (8) (8) Nine Months Ended September 30 Service cost $ 45 39 56 46 1 1 Interest cost 42 61 40 59 3 3 Expected return on plan assets (36) (99) (66) (90) Amortization of prior service credit — (1) — — (29) (28) Recognized net actuarial loss 17 6 36 24 — 1 Settlements 31 — 72 — Curtailments — — 12 — — — Special Termination Benefits — — 9 — — — Net periodic benefit cost $ 99 6 159 39 (25) (23)
Schedule of Discount Rates	The relevant assumptions are summarized in the following table: September 30 December 31 Expected return on plan assets (U.S. qualified pension plan) 5.30 % 3.40 Relevant discount rates U.S. qualified pension plan 5.65 % 2.85 U.S. nonqualified pension plan 5.60 2.50

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Schedule of Significant Transactions with Related Parties	Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 Significant Transactions with Equity Affiliates 2022 2021 2022 2021 Operating revenues and other income $ 21 22 64 63 Purchases — 1 1 5 Operating expenses and selling, general and administrative expenses 55 45 145 135 Net interest (income) expense* — — (1) (2) *We paid interest to, or received interest from, various affiliates . See Note for information related to loans to equity affiliates.

Sales and Other Operating Rev_2

Sales and Other Operating Revenues (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table provides further disaggregation of our consolidated sales and other operating revenues: Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Revenue from contracts with customers $ 15,968 8,880 47,202 23,794 Revenue from contracts outside the scope of ASC Topic 606 Physical contracts meeting the definition of a derivative 5,012 2,620 12,563 7,348 Financial derivative contracts 33 (174) 171 (434) Consolidated sales and other operating revenues $ 21,013 11,326 59,936 30,708 Note —Segment Disclosures and Related Information: Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Revenue from Outside the Scope of ASC Topic 606 by Segment Lower 48 $ 4,275 2,123 10,202 5,934 Canada 553 266 1,920 776 Europe, Middle East and North Africa 184 231 441 638 Physical contracts meeting the definition of a derivative $ 5,012 2,620 12,563 7,348 Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Revenue from Outside the Scope of ASC Topic 606 by Product Crude oil $ 147 215 430 517 Natural gas 4,355 2,192 11,382 6,423 Other 510 213 751 408 Physical contracts meeting the definition of a derivative $ 5,012 2,620 12,563 7,348
Schedule of Contract with Customer, Asset and Liability	Millions of Dollars Contract Liabilities At December 31, 2021 $ 50 Contractual payments received 25 Revenue recognized (56) At September 30, 2022 $ 19

Segment Disclosures and Relat_2

Segment Disclosures and Related Information (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Operating Segment Reporting	Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Sales and Other Operating Revenues Alaska $ 1,984 1,395 6,251 3,946 Lower 48 14,287 7,566 40,302 19,968 Intersegment eliminations (2) (1) (15) (5) Lower 48 14,285 7,565 40,287 19,963 Canada 1,348 967 4,662 2,636 Intersegment eliminations (583) (406) (1,960) (1,063) Canada 765 561 2,702 1,573 Europe, Middle East and North Africa 3,361 1,127 8,602 3,270 Asia Pacific 617 673 2,005 1,880 Other International — 1 — 4 Corporate and Other 1 4 89 72 Consolidated sales and other operating revenues $ 21,013 11,326 59,936 30,708 Sales and Other Operating Revenues by Geographic Location (1) United States $ 16,269 8,963 46,624 23,978 Canada 764 561 2,702 1,573 China 273 193 847 519 Indonesia — 231 159 634 Libya 317 313 1,099 833 Malaysia 345 249 999 727 Norway 1,042 678 2,711 1,708 United Kingdom 2,002 136 4,792 729 Other foreign countries 1 2 3 7 Worldwide consolidated $ 21,013 11,326 59,936 30,708 Sales and Other Operating Revenues by Product Crude oil $ 10,353 6,433 31,717 16,725 Natural gas 8,295 4,099 21,560 11,422 Natural gas liquids 989 414 2,909 976 Other (2) 1,376 380 3,750 1,585 Consolidated sales and other operating revenues by product $ 21,013 11,326 59,936 30,708 (1) Sales and other operating revenues are attributable to countries based on the location of the selling operation. (2) Includes LNG and bitumen. Millions of Dollars Three Months Ended September 30 Nine Months Ended September 30 2022 2021 2022 2021 Net Income (Loss) Alaska $ 580 405 1,851 935 Lower 48 2,653 1,631 9,024 3,274 Canada 119 155 726 267 Europe, Middle East and North Africa 922 241 1,719 601 Asia Pacific 520 257 2,181 749 Other International (28) (97) (28) (106) Corporate and Other (239) (213) (42) (268) Consolidated net income $ 4,527 2,379 15,431 5,452 Millions of Dollars September 30 December 31 Total Assets Alaska $ 14,787 14,812 Lower 48 42,912 41,699 Canada 6,747 7,439 Europe, Middle East and North Africa 8,259 9,125 Asia Pacific 9,996 9,840 Other International 4 1 Corporate and Other 12,132 7,745 Consolidated net income $ 94,837 90,661

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Crude oil and natural gas	$ 650	$ 647
Materials and supplies	576	561
Total Inventories	1,226	1,208
Inventories valued on the LIFO basis	$ 389	$ 395

Acquisitions and Dispositions -

Acquisitions and Dispositions - Narrative (Details) a in Thousands	1 Months Ended					3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Apr. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Feb. 28, 2022 USD ($)	Dec. 31, 2021 USD ($) a	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)
Assets Acquisition in the Lower 48 Segment
Business Acquisition [Line Items]
Total asset consideration	$ 236,000,000
Asset acquisition, property plant and equipment	254,000,000
ARO incurred in assets acquisition	10,000,000
Asset acquisition, reduction in working capital	8,000,000
Subsidiaries Holding Indonesia Assets and Operations
Business Acquisition [Line Items]
Earnings before income tax								$ 138,000,000	$ 423,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Canada and Lower 48
Business Acquisition [Line Items]
Contingent payment						$ 6,000,000	$ 121,000,000	430,000,000	$ 222,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Subsidiaries Holding Indonesia Assets and Operations
Business Acquisition [Line Items]
Disposal group, consideration			$ 731,000,000
Before-tax gain (loss) on disposition			534,000,000
After-tax gain (loss) on disposition			462,000,000
Net carry value of asset disposed			200,000,000
Assets sold, property, plant and equipment			300,000,000
Asset sold, cash and cash equivalents			200,000,000
Asset sold, asset retirement obligation			$ 100,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Certain Noncore Assets
Business Acquisition [Line Items]
Disposal group, consideration		$ 370,000,000
Before-tax gain (loss) on disposition		80,000,000						76,000,000
After-tax gain (loss) on disposition		63,000,000						(58,000,000)
Net carry value of asset disposed	286,000,000	290,000,000				286,000,000		286,000,000
Assets sold	310,000,000					310,000,000		310,000,000
Assets sold, property, plant and equipment	303,000,000	401,000,000				303,000,000		303,000,000
Assets sold, liabilities	24,000,000	$ 111,000,000				24,000,000		24,000,000
Disposal Group, Held-for-sale, Not Discontinued Operations | Certain Noncore Assets
Business Acquisition [Line Items]
Disposal group, consideration	$ 210,000,000					$ 210,000,000		$ 210,000,000
APLNG
Business Acquisition [Line Items]
Additional ownership percentage in equity investment acquired				10%
Payments to acquire equity method investments				$ 1,400,000,000
Equity method investment, ownership percentage	47.50%			47.50%		47.50%		47.50%
APLNG | Origin Energy
Business Acquisition [Line Items]
Ownership percentage				27.50%
APLNG | Sinopec
Business Acquisition [Line Items]
Ownership percentage				25%
Indonesia Corridor Block Production Sharing Contract | Subsidiaries Holding Indonesia Assets and Operations
Business Acquisition [Line Items]
Ownership percentage			54%
Transasia Pipeline Company | Subsidiaries Holding Indonesia Assets and Operations
Business Acquisition [Line Items]
Ownership percentage			35%
Shell Enterprises LLC
Business Acquisition [Line Items]
Total asset consideration					$ 8,600,000,000
Area of land | a					225
Capitalized costs, proved properties					$ 4,200,000,000
Capitalized costs, unproved properties					$ 4,300,000,000

Acquisitions and Dispositions_2

Acquisitions and Dispositions - Schedule of Business Combination (Details) - Shell Enterprises LLC $ in Millions	Dec. 31, 2021 USD ($)
Assets Acquired
Accounts receivable, net	$ 337
Inventories	20
Net properties, plants and equipment	8,582
Other assets	50
Total assets acquired	8,989
Liabilities Assumed
Accounts payable	206
Accrued income and other taxes	6
Other accruals	20
Asset retirement obligations and accrued environmental costs	86
Other liabilities and deferred credits	36
Total liabilities assumed	354
Net assets acquired	$ 8,635

Acquisitions and Dispositions_3

Acquisitions and Dispositions - Supplemental Pro Forma (unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Supplemental Pro Forma (unaudited)
Total revenues and other Income	$ 21,614	$ 11,616	$ 62,894	$ 32,386
Income (loss) before income taxes	7,440	3,582	22,993	8,376
Net income (loss)	$ 4,527	$ 2,379	$ 15,431	$ 5,452
Earnings per share ($ per share):
Basic net income (in dollars per share)	$ 3.56	$ 1.78	$ 11.96	$ 4.10
Diluted net income (in dollars per share)	$ 3.55	$ 1.78	$ 11.93	$ 4.09
Pro Forma
Supplemental Pro Forma (unaudited)
Total revenues and other Income		$ 12,498		$ 34,663
Income (loss) before income taxes		3,946		9,156
Net income (loss)		$ 2,658		$ 6,049
Earnings per share ($ per share):
Basic net income (in dollars per share)		$ 1.99		$ 4.55
Diluted net income (in dollars per share)		$ 1.98		$ 4.54
Shell Enterprises LLC
Supplemental Pro Forma (unaudited)
Total revenue and other income, pro-forma Shell		$ 882		$ 2,277
Income (loss) before income taxes, pro-forma Shell		364		780
Net income (loss), pro-forma Shell		$ 279		$ 597
Earnings per share ($ per share):
Basic net income, pro-forma Shell (in dollars per share)
Diluted net income, pro-forma Shell (in dollars per share)

Investments, Loans and Long-T_2

Investments, Loans and Long-Term Receivables - Narrative (Details) - APLNG - USD ($) $ in Billions	1 Months Ended
	Feb. 28, 2022	Sep. 30, 2022	Dec. 31, 2012
Schedule of Equity Method Investments [Line Items]
Project finance facility, maximum borrowing capacity			$ 8.5
Line of credit facility value outstanding		$ 5.2
Additional ownership percentage in equity investment acquired	10%
Payments to acquire equity method investments	$ 1.4
Equity method investment, ownership percentage	47.50%	47.50%
Book value of equity method investment		$ 6.4
Origin Energy
Schedule of Equity Method Investments [Line Items]
Ownership percentage	27.50%
Sinopec
Schedule of Equity Method Investments [Line Items]
Ownership percentage	25%

Investment in Cenovus Energy -

Investment in Cenovus Energy - Narrative (Details) - Common Stock - Cenovus Energy Inc - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Shares held (in shares)		91
Investment owned, common stock, percent of issued and outstanding		4.50%
Investment in equity security, fair value		$ 1,100
Cenovus Energy common share price		$ 12.28
Equity securities, shares sold	91
Proceeds received from sale of equity securities	$ 1,400

Investment in Cenovus Energy _2

Investment in Cenovus Energy - Schedule of Gains and Losses Recorded in Other Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Debt and Equity Securities, FV-NI [Line Items]
Total Net gain on equity securities			$ 251	$ 743
Cenovus Energy Inc
Debt and Equity Securities, FV-NI [Line Items]
Total Net gain on equity securities	$ 0	$ 17	251	743
Less: Net gain (loss) on equity securities sold during the period	0	(50)	251	177
Unrealized gain on equity securities still held at the reporting date	$ 0	$ 67	$ 0	$ 566

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2022	May 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term and short-term, combined amount, gross	$ 16,206		$ 17,766
Finance leases	1,282		1,261
Net unamortized premiums, discounts and debt issuance costs	(527)		907
Total debt	16,961		19,934
Short-term debt	(664)		(1,200)
Long-term debt	$ 16,297		18,734
2.4% Notes due 2022 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	2.40%
Long-term and short-term, combined amount, gross	$ 329		329
7.65% Debentures due 2023 | Debentures
Debt Instrument [Line Items]
Stated interest rate	7.65%
Long-term and short-term, combined amount, gross	$ 78		78
3.35% Notes due 2024 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	3.35%
Long-term and short-term, combined amount, gross	$ 426		426
2.125% Notes due 2024 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	2.125%
Long-term and short-term, combined amount, gross	$ 900		0
8.2% Notes due 2025 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	8.20%
Long-term and short-term, combined amount, gross	$ 134		134
3.35% Debentures due 2025 | Debentures
Debt Instrument [Line Items]
Stated interest rate	3.35%
Long-term and short-term, combined amount, gross	$ 199		199
2.4% Notes due 2025 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	2.40%
Long-term and short-term, combined amount, gross	$ 900		0
6.875% Debentures due 2026 | Debentures
Debt Instrument [Line Items]
Stated interest rate	6.875%
Long-term and short-term, combined amount, gross	$ 67		67
4.95% Notes due 2026 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	4.95%	4.95%
Long-term and short-term, combined amount, gross	$ 0		1,250
7.8% Debentures due 2027 | Debentures
Debt Instrument [Line Items]
Stated interest rate	7.80%
Long-term and short-term, combined amount, gross	$ 203		203
3.75% Notes due 2027 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	3.75%
Long-term and short-term, combined amount, gross	$ 196		1,000
4.3% Notes due 2028 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	4.30%
Long-term and short-term, combined amount, gross	$ 223		1,000
7.375% Debentures due 2029 | Debentures
Debt Instrument [Line Items]
Stated interest rate	7.375%
Long-term and short-term, combined amount, gross	$ 92		92
7% Debentures due 2029 | Debentures
Debt Instrument [Line Items]
Stated interest rate	7%
Long-term and short-term, combined amount, gross	$ 112		200
6.95% Notes due 2029 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	6.95%
Long-term and short-term, combined amount, gross	$ 1,195		1,549
8.125% Notes due 2030 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	8.125%
Long-term and short-term, combined amount, gross	$ 390		390
7.4% Notes due 2031 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	7.40%
Long-term and short-term, combined amount, gross	$ 382		500
7.25% Notes due 2031 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	7.25%
Long-term and short-term, combined amount, gross	$ 400		500
7.2% Notes due 2031 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	7.20%
Long-term and short-term, combined amount, gross	$ 447		575
2.4% Notes due 2031 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	2.40%
Long-term and short-term, combined amount, gross	$ 227		500
5.9% Notes due 2032 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	5.90%
Long-term and short-term, combined amount, gross	$ 505		505
4.15% Notes due 2034 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	4.15%
Long-term and short-term, combined amount, gross	$ 246		246
5.95% Notes due 2036 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	5.95%
Long-term and short-term, combined amount, gross	$ 326		500
5.951% Notes due 2037 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	5.951%
Long-term and short-term, combined amount, gross	$ 645		645
5.9% Notes due 2038 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	5.90%
Long-term and short-term, combined amount, gross	$ 350		600
6.5% Notes due 2039 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	6.50%
Long-term and short-term, combined amount, gross	$ 1,588		2,750
3.758% Notes due 2042 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	3.758%
Long-term and short-term, combined amount, gross	$ 785		0
4.3% Notes due 2044 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	4.30%
Long-term and short-term, combined amount, gross	$ 750		750
5.95% Notes due 2046 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	5.95%
Long-term and short-term, combined amount, gross	$ 329		500
7.9% Debentures due 2047 | Debentures
Debt Instrument [Line Items]
Stated interest rate	7.90%
Long-term and short-term, combined amount, gross	$ 60		60
4.875% Notes due 2047 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	4.875%
Long-term and short-term, combined amount, gross	$ 319		800
4.85% Notes due 2048 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	4.85%
Long-term and short-term, combined amount, gross	$ 219		600
3.8% Notes due 2052 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	3.80%
Long-term and short-term, combined amount, gross	$ 1,100		0
4.025% Notes due 2062 | Notes Payable to Banks
Debt Instrument [Line Items]
Stated interest rate	4.025%
Long-term and short-term, combined amount, gross	$ 1,770		0
Floating rate notes due 2022 at 1.06% – 1.41% during 2022 and 1.02% –1.12% during 2021 | Floating Rate Notes
Debt Instrument [Line Items]
Long-term and short-term, combined amount, gross	$ 0		$ 500
Floating rate notes due 2022 at 1.06% – 1.41% during 2022 and 1.02% –1.12% during 2021 | Floating Rate Notes | Minimum
Debt Instrument [Line Items]
Stated interest rate	1.06%		1.02%
Floating rate notes due 2022 at 1.06% – 1.41% during 2022 and 1.02% –1.12% during 2021 | Floating Rate Notes | Maximum
Debt Instrument [Line Items]
Stated interest rate	1.41%		1.12%
Marine Terminal Revenue Refunding Bonds due 2031 at 0.07% – 2.55% during 2022 and 0.04% – 0.15% during 2021 | Variable Rate Debt Bonds
Debt Instrument [Line Items]
Long-term and short-term, combined amount, gross	$ 265		$ 265
Marine Terminal Revenue Refunding Bonds due 2031 at 0.07% – 2.55% during 2022 and 0.04% – 0.15% during 2021 | Variable Rate Debt Bonds | Minimum
Debt Instrument [Line Items]
Stated interest rate	0.07%		0.04%
Marine Terminal Revenue Refunding Bonds due 2031 at 0.07% – 2.55% during 2022 and 0.04% – 0.15% during 2021 | Variable Rate Debt Bonds | Maximum
Debt Instrument [Line Items]
Stated interest rate	2.55%		0.15%
Industrial Development Bonds due 2035 at 0.07% – 2.55% during 2022 and 0.04% – 0.12% during 2021 | Variable Rate Debt Bonds
Debt Instrument [Line Items]
Long-term and short-term, combined amount, gross	$ 18		$ 18
Industrial Development Bonds due 2035 at 0.07% – 2.55% during 2022 and 0.04% – 0.12% during 2021 | Variable Rate Debt Bonds | Minimum
Debt Instrument [Line Items]
Stated interest rate	0.07%		0.04%
Industrial Development Bonds due 2035 at 0.07% – 2.55% during 2022 and 0.04% – 0.12% during 2021 | Variable Rate Debt Bonds | Maximum
Debt Instrument [Line Items]
Stated interest rate	2.55%		0.12%
Other
Debt Instrument [Line Items]
Long-term and short-term, combined amount, gross	$ 31		$ 35

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Millions	1 Months Ended		9 Months Ended
	May 31, 2022 USD ($)	Mar. 31, 2022 USD ($) transaction	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Mar. 08, 2022 USD ($)	Feb. 28, 2022 USD ($)	Jan. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Debt instrument, repurchased face amount		$ 2,716
Debt repurchase, incurred debt premium		333
Gain (loss) on repurchase of debt instrument		$ 155
Repayments of debt			$ 5,874	$ 363
Number of debt exchange transactions | transaction		2
Debt instrument, exchange amount		$ 2,544
Debt exchange, incurred premium		883
Debt premium cash component		872
Expense from exchange of debt		28
Debentures | 7% Debentures due 2029
Debt Instrument [Line Items]
Stated interest rate			7%
Debt at face value						$ 200
Debt instrument, exchange amount		88
Notes Payable to Banks | 4.95% Notes due 2026
Debt Instrument [Line Items]
Debt instrument, repurchased face amount	$ 1,250
Stated interest rate	4.95%		4.95%
Debt repurchase, incurred debt premium	$ 79
Gain (loss) on repurchase of debt instrument	(83)
Notes Payable to Banks | 3.75% Notes due 2027
Debt Instrument [Line Items]
Debt instrument, repurchased face amount		804
Stated interest rate			3.75%
Debt at face value						1,000
Notes Payable to Banks | 4.3% Notes due 2028
Debt Instrument [Line Items]
Debt instrument, repurchased face amount		777
Stated interest rate			4.30%
Debt at face value						1,000
Notes Payable to Banks | 2.4% Notes due 2031
Debt Instrument [Line Items]
Debt instrument, repurchased face amount		273
Stated interest rate			2.40%
Debt at face value						500
Notes Payable to Banks | 4.875% Notes due 2047
Debt Instrument [Line Items]
Debt instrument, repurchased face amount		481
Stated interest rate			4.875%
Debt at face value						800
Notes Payable to Banks | 4.85% Notes due 2048
Debt Instrument [Line Items]
Debt instrument, repurchased face amount		381
Stated interest rate			4.85%
Debt at face value						600
Notes Payable to Banks | 6.95% Notes due 2029
Debt Instrument [Line Items]
Stated interest rate			6.95%
Debt at face value						1,549
Debt instrument, exchange amount		354
Notes Payable to Banks | 7.4% Notes due 2031
Debt Instrument [Line Items]
Stated interest rate			7.40%
Debt at face value						500
Debt instrument, exchange amount		118
Notes Payable to Banks | 7.25% Notes due 2031
Debt Instrument [Line Items]
Stated interest rate			7.25%
Debt at face value						500
Debt instrument, exchange amount		100
Notes Payable to Banks | 7.2% Notes due 2031
Debt Instrument [Line Items]
Stated interest rate			7.20%
Debt at face value						575
Debt instrument, exchange amount		128
Notes Payable to Banks | 5.95% Notes due 2036
Debt Instrument [Line Items]
Stated interest rate			5.95%
Debt at face value						500
Debt instrument, exchange amount		174
Notes Payable to Banks | 5.9% Notes due 2038
Debt Instrument [Line Items]
Stated interest rate			5.90%
Debt at face value						600
Debt instrument, exchange amount		250
Notes Payable to Banks | 6.5% Notes due 2039
Debt Instrument [Line Items]
Stated interest rate			6.50%
Debt at face value						2,750
Debt instrument, exchange amount		1,162
Notes Payable to Banks | 5.95% Notes due 2046
Debt Instrument [Line Items]
Stated interest rate			5.95%
Debt at face value						500
Debt instrument, exchange amount		$ 171
Notes Payable to Banks | 3.758% Notes due 2042
Debt Instrument [Line Items]
Stated interest rate			3.758%
Debt at face value			$ 785
Notes Payable to Banks | 4.025% Notes due 2062
Debt Instrument [Line Items]
Stated interest rate			4.025%
Debt at face value			$ 1,770
Notes Payable to Banks | 2.125% Notes due 2024
Debt Instrument [Line Items]
Stated interest rate			2.125%
Debt at face value					$ 900
Notes Payable to Banks | 2.4% Notes due 2025
Debt Instrument [Line Items]
Stated interest rate			2.40%
Debt at face value					900
Notes Payable to Banks | 3.8% Notes due 2052
Debt Instrument [Line Items]
Stated interest rate			3.80%
Debt at face value					$ 1,100
Variable Rate Debt Bonds
Debt Instrument [Line Items]
Debt at face value			$ 283
Floating Rate Notes | Floating rate notes due 2022 at 1.06% – 1.41% during 2022 and 1.02% –1.12% during 2021
Debt Instrument [Line Items]
Repayments of debt	$ 500
Floating Rate Notes | Floating rate notes due 2022 at 1.06% – 1.41% during 2022 and 1.02% –1.12% during 2021 | Maximum
Debt Instrument [Line Items]
Stated interest rate			1.41%					1.12%
Revolving Credit Facility
Debt Instrument [Line Items]
Project finance facility, maximum borrowing capacity						$ 5,500	$ 6,000
Minimum limit of debt for cross default provision			$ 200
Commercial paper program, amount outstanding			0					$ 0
Remaining borrowing capacity under revolving credit facility			5,500
Commercial Paper | Conoco Phillips Commercial Paper Program
Debt Instrument [Line Items]
Project finance facility, maximum borrowing capacity			5,500
Commercial paper program, amount outstanding			0					$ 0
Letter of Credit | Maximum
Debt Instrument [Line Items]
Line of credit facility, capacity available for specific purpose other than for trade purchases			$ 500

Changes in Equity (Details)

Changes in Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 50,202	$ 44,276	$ 45,406	$ 29,849
Net Income	4,527	2,379	15,431	5,452
Other comprehensive income (loss)	(552)	(203)	(915)	95
Dividends declared, ordinary	(588)	(1,188)	(1,789)	(2,359)
Dividends declared, variable return of cash	(1,754)		(3,040)
Repurchase of company common stock	(2,799)	(1,243)	(6,524)	(2,224)
Distributed under benefit plans	44	94	508	176
Acquisition of Concho				13,125
Other	(1)		2	1
Ending Balance	$ 49,079	$ 44,115	$ 49,079	$ 44,115
Dividends declared, ordinary (in dollars per share)	$ 0.46	$ 0.89	$ 1.38	$ 1.75
Dividends declared, variable return of cash (in dollars per share)	$ 1.40		$ 2.40
Par Value
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 21	$ 21	$ 21	$ 18
Acquisition of Concho				3
Ending Balance	21	21	21	21
Capital in Excess of Par
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	61,045	60,337	60,581	47,133
Distributed under benefit plans	44	94	508	176
Acquisition of Concho				13,122
Ending Balance	61,089	60,431	61,089	60,431
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(54,644)	(48,278)	(50,920)	(47,297)
Repurchase of company common stock	(2,799)	(1,243)	(6,524)	(2,224)
Other	(1)
Ending Balance	(57,444)	(49,521)	(57,444)	(49,521)
Accum. Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(5,313)	(4,920)	(4,950)	(5,218)
Other comprehensive income (loss)	(552)	(203)	(915)	95
Ending Balance	(5,865)	(5,123)	(5,865)	(5,123)
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	49,093	37,116	40,674	35,213
Net Income	4,527	2,379	15,431	5,452
Dividends declared, ordinary	(588)	(1,188)	(1,789)	(2,359)
Dividends declared, variable return of cash	(1,754)		(3,040)
Other			2	1
Ending Balance	$ 51,278	$ 38,307	$ 51,278	$ 38,307

Guarantees - Narrative (Details

Guarantees - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Feb. 28, 2022
APLNG
Guarantor Obligations [Line Items]
Ownership percentage in equity investment	47.50%	47.50%
Finance Reserve Guarantee | APLNG
Guarantor Obligations [Line Items]
Guarantor obligations, remaining term	8 years
Maximum potential amount of future payments	$ 210
Guarantor obligations, current carrying value	14
Max Potential Future Payments Reckless Breach | APLNG
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	1,300
Max Potential Future Payments Pro-rata Share | APLNG
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	760
Continued Development | APLNG
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	280
Guarantor obligations, current carrying value	$ 20
Continued Development | APLNG | Minimum
Guarantor Obligations [Line Items]
Guarantor obligations, term	14 years
Continued Development | APLNG | Maximum
Guarantor Obligations [Line Items]
Guarantor obligations, term	23 years
Other Guarantees
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	$ 600
Guarantor obligations, current carrying value	$ 0
Other Guarantees | Minimum
Guarantor Obligations [Line Items]
Guarantor obligations, term	3 years
Other Guarantees | Maximum
Guarantor Obligations [Line Items]
Guarantor obligations, term	5 years
Indemnifications
Guarantor Obligations [Line Items]
Guarantor obligations, current carrying value	$ 20

Contingencies and Commitments -

Contingencies and Commitments - Narrative (Details) $ in Millions			1 Months Ended			9 Months Ended	12 Months Ended
	May 10, 2021 USD ($)	Aug. 02, 2019 USD ($)	Mar. 31, 2019 USD ($)	Aug. 31, 2018 USD ($)	Apr. 30, 2018 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2017 lawsuit	Dec. 31, 2021 USD ($)	Aug. 29, 2019 USD ($)
Loss Contingencies [Line Items]
Total environmental accrual included in balance sheet						$ 182		$ 187
Performance obligations secured by letters of credit						$ 261
Several Louisiana Parishes and the State of Louisiana Against Oil and Gas Companies
Loss Contingencies [Line Items]
Loss contingency, new claims filed, number | lawsuit							43
Several Louisiana Parishes and the State of Louisiana Against Oil and Gas Companies | ConocoPhillips Entities
Loss Contingencies [Line Items]
Loss contingency, new claims filed, number | lawsuit							22
Outer Continental Shelf Lease | Phillips Petroleum Company
Loss Contingencies [Line Items]
Ownership percentage in equity investment						25%
Sale of interest, duration						30 years
ConocoPhillips v Santos KOTN Pty Ltd and Santos Limited re Barossa Development Project | Performance Guarantee
Loss Contingencies [Line Items]
Loss contingency, damages sought, value	$ 200
Venezuela | ConocoPhillips Versus Petroleos de Venezuela ICISD
Loss Contingencies [Line Items]
Litigation settlement, amount awarded from other party			$ 8,700
Litigation award reduction									$ 227
Litigation settlement amount awarded from other party revised						$ 8,500
Venezuela | ConocoPhillips vs Petroleos De Venezuela ICC
Loss Contingencies [Line Items]
Litigation settlement, amount awarded from other party		$ 33		$ 500	$ 2,000
Proceeds from legal settlements						$ 772
US and Canada | Cleanup Remediation Activities
Loss Contingencies [Line Items]
Environmental loss contingencies, term						30 years

Derivative and Financial Inst_3

Derivative and Financial Instruments - Schedule of Balance Sheet Location and Fair Value Amounts of Derivatives (Details) - Commodity Contract - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Commodity derivative assets	$ 1,675	$ 1,168
Other assets
Derivatives, Fair Value [Line Items]
Commodity derivative assets	267	75
Other accruals
Derivatives, Fair Value [Line Items]
Commodity derivative liabilities	1,668	1,160
Other liabilities and deferred credits
Derivatives, Fair Value [Line Items]
Commodity derivative liabilities	$ 220	$ 63

Derivative and Financial Inst_4

Derivative and Financial Instruments - Schedule of Income Statement Location and Gain (Loss) Amounts of Derivatives (Details) - Commodity Contract - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Sales and other operating revenues
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	$ (129)	$ (483)	$ (549)	$ (862)
Other income
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	(4)	7	(2)	23
Purchased commodities
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	$ 6	$ 405	$ 352	$ 550

Derivative and Financial Inst_5

Derivative and Financial Instruments - Narrative (Details) - USD ($)	3 Months Ended				9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Derivative [Line Items]
Debt securities, available-for-sale, unrealized loss					$ 17,000,000
Debt securities, available-for-sale, allowance for credit loss	$ 0				0		$ 0
Proceeds from sales and redemptions of investments in debt securities classified as available for sale	198,000,000	$ 165,000,000			399,000,000	$ 485,000,000
Derivative, net liability position, aggregate fair value	377,000,000				377,000,000		281,000,000
Collateral already posted, aggregate fair value	4,000,000				$ 4,000,000		$ 0
Minimum
Derivative [Line Items]
Investments and long-term receivables, remaining maturity					1 year
Maximum
Derivative [Line Items]
Investments and long-term receivables, remaining maturity					5 years
In event of downgrade below investment grade
Derivative [Line Items]
Additional collateral, aggregate fair value	$ 314,000,000				$ 314,000,000
Accounts Receivable | Maximum
Derivative [Line Items]
Credit derivative, term					30 days
Concho Resources Incorporated | Commodity Contract
Derivative [Line Items]
Gains (losses) from commodity derivatives				$ (305,000,000)
Increase (decrease) in commodity contract assets and liabilities			$ 69,000,000	$ 692,000,000

Derivative and Financial Inst_6

Derivative and Financial Instruments - Schedule of Net Exposures from Outstanding Commodity Derivative Contracts (Details) - Commodity Contract - Bcf	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Natural Gas and Power, Fixed Price | Long
Trading Activity, Gains and Losses, Net [Line Items]
Commodity derivatives - volumetric material net exposures		4
Natural Gas and Power, Fixed Price | Short
Trading Activity, Gains and Losses, Net [Line Items]
Commodity derivatives - volumetric material net exposures	18
Natural Gas and Power, Basis | Short
Trading Activity, Gains and Losses, Net [Line Items]
Commodity derivatives - volumetric material net exposures	2	22

Derivative and Financial Inst_7

Derivative and Financial Instruments - Schedule of Net Carrying Amount of Held to Maturity Investments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents, carried at cost plus accrued interest	$ 7,943	$ 5,018
Short-term investments, carried at cost plus accrued interest	1,762	225
Cash
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents, carried at cost plus accrued interest	664	670
Demand Deposits
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents, carried at cost plus accrued interest	1,413	1,554
Time Deposits | 1 to 90 days
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents, carried at cost plus accrued interest	5,843	2,363
Short-term investments, carried at cost plus accrued interest	1,591	217
Time Deposits | 91 to 180 days
Schedule of Held-to-maturity Securities [Line Items]
Short-term investments, carried at cost plus accrued interest	137	4
Time Deposits | Within one year
Schedule of Held-to-maturity Securities [Line Items]
Short-term investments, carried at cost plus accrued interest	34	4
U.S. Government Obligations | 1 to 90 days
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents, carried at cost plus accrued interest	23	431
Short-term investments, carried at cost plus accrued interest	$ 0	$ 0

Derivative and Financial Inst_8

Derivative and Financial Instruments - Schedule of Debt Securities Carried at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Cash and Cash Equivalents	$ 8,010	$ 5,028
Short-Term Investments	2,412	446
Investments and Long-Term Receivables	8,204	7,113
Within one year | Reported Value Measurement
Debt Securities, Available-for-sale [Line Items]
Cash and Cash Equivalents	67	10
Short-Term Investments	650	221
Within one year | Reported Value Measurement | Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Cash and Cash Equivalents	0	3
Short-Term Investments	322	128
Within one year | Reported Value Measurement | Commercial Paper
Debt Securities, Available-for-sale [Line Items]
Cash and Cash Equivalents	67	7
Short-Term Investments	216	82
Within one year | Reported Value Measurement | U.S. Government Obligations
Debt Securities, Available-for-sale [Line Items]
Cash and Cash Equivalents	0	0
Short-Term Investments	101	0
Within one year | Reported Value Measurement | U.S. Government Agency Obligations
Debt Securities, Available-for-sale [Line Items]
Short-Term Investments	8	2
Within one year | Reported Value Measurement | Foreign Government Obligations
Debt Securities, Available-for-sale [Line Items]
Short-Term Investments	3	7
Within one year | Reported Value Measurement | Asset-backed Securities
Debt Securities, Available-for-sale [Line Items]
Short-Term Investments	0	2
Investments and Long-Term Receivables | Reported Value Measurement
Debt Securities, Available-for-sale [Line Items]
Investments and Long-Term Receivables	480	248
Investments and Long-Term Receivables | Reported Value Measurement | Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Investments and Long-Term Receivables	287	173
Investments and Long-Term Receivables | Reported Value Measurement | U.S. Government Obligations
Debt Securities, Available-for-sale [Line Items]
Investments and Long-Term Receivables	68	2
Investments and Long-Term Receivables | Reported Value Measurement | U.S. Government Agency Obligations
Debt Securities, Available-for-sale [Line Items]
Investments and Long-Term Receivables	0	8
Investments and Long-Term Receivables | Reported Value Measurement | Foreign Government Obligations
Debt Securities, Available-for-sale [Line Items]
Investments and Long-Term Receivables	7	2
Investments and Long-Term Receivables | Reported Value Measurement | Asset-backed Securities
Debt Securities, Available-for-sale [Line Items]
Investments and Long-Term Receivables	$ 118	$ 63

Derivative and Financial Inst_9

Derivative and Financial Instruments - Schedule of Amortized Cost Basis and Fair Value of Investments in Debt Securities Classified as Available for Sale (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	$ 1,214	$ 479
Fair Value	1,197	479
Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	621	305
Fair Value	609	304
Commercial Paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	284	88
Fair Value	283	89
U.S. Government Obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	172	2
Fair Value	169	2
U.S. Government Agency Obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	8	10
Fair Value	8	10
Foreign Government Obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	10	9
Fair Value	10	9
Asset-backed Securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	119	65
Fair Value	$ 118	$ 65

Fair Value Measurement - Schedu

Fair Value Measurement - Schedule of Fair Value Hierarchy for Gross Financial Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Cenovus Energy	$ 0	$ 1,117
Commodity derivatives	1,942	1,243
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Cenovus Energy	0	1,117
Investments in debt securities	1,197	479
Commodity derivatives	1,942	1,243
Total assets	3,139	2,839
Commodity derivatives	1,888	1,223
Total liabilities	1,888	1,223
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Cenovus Energy	0	1,117
Investments in debt securities	169	2
Commodity derivatives	919	562
Total assets	1,088	1,681
Commodity derivatives	927	593
Total liabilities	927	593
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Cenovus Energy	0	0
Investments in debt securities	1,028	477
Commodity derivatives	977	619
Total assets	2,005	1,096
Commodity derivatives	772	543
Total liabilities	772	543
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Cenovus Energy	0	0
Investments in debt securities	0	0
Commodity derivatives	46	62
Total assets	46	62
Commodity derivatives	189	87
Total liabilities	$ 189	$ 87

Fair Value Measurement - Sche_2

Fair Value Measurement - Schedule of Commodity Derivative Balances Subject to Right of Setoff (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Offsetting Derivative Assets [Abstract]
Assets - gross amounts recognized	$ 1,942	$ 1,243
Assets - amounts without right of setoff	11	85
Assets - gross amounts	1,931	1,158
Assets - gross amounts offset	1,099	650
Assets - net amounts presented	832	508
Assets - cash collateral	1	0
Assets - net amounts	831	508
Offsetting Derivative Liabilities [Abstract]
Liabilities - gross amounts recognized	1,888	1,223
Liabilities - amounts without right of setoff	2	82
Liabilities - gross amounts recognized	1,886	1,141
Liabilities - gross amounts offset	1,099	650
Liabilities - net amounts presented	787	491
Liabilities - cash collateral	32	36
Liabilities - net amounts	$ 755	$ 455

Fair Value Measurement - Sche_3

Fair Value Measurement - Schedule of Net Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Financial Assets [Abstract]
Investment in Cenovus Energy	$ 0	$ 1,117
Carrying Amount
Financial Assets [Abstract]
Investment in Cenovus Energy	0	1,117
Investments in debt securities	1,197	479
Loans and advances—related parties	0	114
Financial Liabilities [Abstract]
Total debt, excluding finance leases	15,679	18,673
Carrying Amount | Commodity Contract
Financial Assets [Abstract]
Commodity derivatives	842	593
Financial Liabilities [Abstract]
Commodity derivatives	757	537
Estimate of Fair Value Measurement
Financial Assets [Abstract]
Investment in Cenovus Energy	0	1,117
Investments in debt securities	1,197	479
Loans and advances—related parties	0	114
Financial Liabilities [Abstract]
Total debt, excluding finance leases	15,755	22,451
Estimate of Fair Value Measurement | Commodity Contract
Financial Assets [Abstract]
Commodity derivatives	842	593
Financial Liabilities [Abstract]
Commodity derivatives	$ 757	$ 537

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Schedule of Components of Accumulated Other Comprehensive Loss in the Equity Section of the Balance Sheet (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ (4,950)
Other comprehensive loss	$ (552)	$ (203)	(915)	$ 95
Ending balance	(5,865)		(5,865)
Defined Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(31)
Other comprehensive loss			(61)
Ending balance	(92)		(92)
Net Unrealized Loss on Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			0
Other comprehensive loss			(13)
Ending balance	(13)		(13)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(4,919)
Other comprehensive loss			(841)
Ending balance	$ (5,760)		$ (5,760)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Schedule of Items Reclassified out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Defined benefit plans	$ 6	$ 29	$ 22	$ 83
Tax expense of defined benefit plans	$ 1	$ 7	$ 6	$ 22

Cash Flow Information - Schedul

Cash Flow Information - Schedule of Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash Payments
Interest	$ 706	$ 695
Income taxes	5,602	358
Net Sales (Purchases) of Investments
Short-term investments purchased	(2,960)	(5,487)
Short-term investments sold	1,297	8,478
Long-term investments purchased	(640)	(228)
Long-term investments sold	68	83
Net (purchase) sale of investments	$ (2,235)	$ 2,846

Cash Flow Information - Narrati

Cash Flow Information - Narrative (Details) - Concho Resources Inc. $ in Millions	3 Months Ended
	Mar. 31, 2021 USD ($)
Cash and Cash Equivalents [Line Items]
Business combination, consideration transferred, equity interests issued and issuable	$ 13,100
Cash acquired from Concho	$ 382

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Other Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 0	$ 0	$ 1	$ 1
Interest cost	1	1	3	3
Expected return on plan assets
Amortization of prior service credit	(9)	(9)	(29)	(28)
Recognized net actuarial loss	0	0	0	1
Settlements
Curtailments			0	0
Special Termination Benefits			0	0
Net periodic benefit cost	(8)	(8)	(25)	(23)
United States | Pension Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	13	17	45	56
Interest cost	18	12	42	40
Expected return on plan assets	(10)	(22)	(36)	(66)
Amortization of prior service credit	0	0	0	0
Recognized net actuarial loss	6	9	17	36
Settlements	9	28	31	72
Curtailments			0	12
Special Termination Benefits			0	9
Net periodic benefit cost	36	44	99	159
Int'l. | Pension Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	13	15	39	46
Interest cost	19	19	61	59
Expected return on plan assets	(31)	(30)	(99)	(90)
Amortization of prior service credit	(1)	0	(1)	0
Recognized net actuarial loss	2	8	6	24
Settlements	0	0	0	0
Curtailments			0	0
Special Termination Benefits			0	0
Net periodic benefit cost	$ 2	$ 12	$ 6	$ 39

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
United States
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, contributions by employer			$ 68
Defined benefit plan, expected future employer contributions, current fiscal year	$ 95		95
United States | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Settlements	9	$ 28	31	$ 72
Increase (decrease) in net pension liability	23
Int'l.
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, contributions by employer			93
Defined benefit plan, expected future employer contributions, current fiscal year	100		100
Int'l. | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Settlements	$ 0	$ 0	$ 0	$ 0

Employee Benefit Plans - Sche_2

Employee Benefit Plans - Schedule of Discount Rate (Details) - United States	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
U.S. qualified pension plan
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets (U.S. qualified pension plan)	5.30%	3.40%
Relevant discount rates	5.65%	2.85%
U.S. nonqualified pension plan
Defined Benefit Plan Disclosure [Line Items]
Relevant discount rates	5.60%	2.50%

Related Party Transactions - Sc

Related Party Transactions - Schedule of Significant Transactions with Related Parties (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Significant Transactions with Equity Affiliates
Operating revenues and other income	$ 21	$ 22	$ 64	$ 63
Purchases	0	1	1	5
Operating expenses and selling, general and administrative expenses	55	45	145	135
Net interest (income) expense	$ 0	$ 0	$ (1)	$ (2)

Sales and Other Operating Rev_3

Sales and Other Operating Revenues - Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue from contract	$ 15,968	$ 8,880	$ 47,202	$ 23,794
Consolidated sales and other operating revenues	21,013	11,326	59,936	30,708
Physical contracts meeting the definition of a derivative
Revenue from contracts outside the scope of ASC Topic 606	5,012	2,620	12,563	7,348
Crude oil
Revenue from contracts outside the scope of ASC Topic 606	147	215	430	517
Natural gas
Revenue from contracts outside the scope of ASC Topic 606	4,355	2,192	11,382	6,423
Other
Revenue from contracts outside the scope of ASC Topic 606	510	213	751	408
Financial derivative contracts
Revenue from contracts outside the scope of ASC Topic 606	33	(174)	171	(434)
Lower 48 | Physical contracts meeting the definition of a derivative
Revenue from contracts outside the scope of ASC Topic 606	4,275	2,123	10,202	5,934
Canada | Physical contracts meeting the definition of a derivative
Revenue from contracts outside the scope of ASC Topic 606	553	266	1,920	776
Europe, Middle East and North Africa | Physical contracts meeting the definition of a derivative
Revenue from contracts outside the scope of ASC Topic 606	$ 184	$ 231	$ 441	$ 638

Sales and Other Operating Rev_4

Sales and Other Operating Revenues - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Accounts receivable, after allowance for credit loss	$ 5,701	$ 5,701	$ 5,268
Revenue recognized	$ 0	$ 56

Sales and Other Operating Rev_5

Sales and Other Operating Revenues - Schedule of Contract with Customer, Asset and Liability (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Change in Contract with Customer, Liability [Abstract]
Beginning balance		$ 50
Contractual payments received		25
Revenue recognized	$ 0	(56)
Ending balance	$ 19	$ 19

Segment Disclosures and Relat_3

Segment Disclosures and Related Information - Narrative (Details)	9 Months Ended
	Sep. 30, 2022 segment
Segment Reporting [Abstract]
Number of operating segments	6

Segment Disclosures and Relat_4

Segment Disclosures and Related Information - Sales (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	$ 21,013	$ 11,326	$ 59,936	$ 30,708
Lower 48
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	14,287	7,566	40,302	19,968
Canada
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	1,348	967	4,662	2,636
Intersegment eliminations | Lower 48
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	(2)	(1)	(15)	(5)
Intersegment eliminations | Canada
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	(583)	(406)	(1,960)	(1,063)
Operating Segments
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	21,013	11,326	59,936	30,708
Operating Segments | Alaska
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	1,984	1,395	6,251	3,946
Operating Segments | Lower 48
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	14,285	7,565	40,287	19,963
Operating Segments | Canada
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	765	561	2,702	1,573
Operating Segments | Europe, Middle East and North Africa
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	3,361	1,127	8,602	3,270
Operating Segments | Asia Pacific
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	617	673	2,005	1,880
Operating Segments | Other International
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	0	1	0	4
Corporate and Other
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	1	4	89	72
United States
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	16,269	8,963	46,624	23,978
Canada
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	764	561	2,702	1,573
China
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	273	193	847	519
Indonesia
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	0	231	159	634
Libya
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	317	313	1,099	833
Malaysia
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	345	249	999	727
Norway
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	1,042	678	2,711	1,708
United Kingdom
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	2,002	136	4,792	729
Other foreign countries
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	1	2	3	7
Natural gas
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	8,295	4,099	21,560	11,422
Natural gas liquids
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	989	414	2,909	976
Crude oil
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	10,353	6,433	31,717	16,725
Other
Segment Reporting Information [Line Items]
Consolidated sales and other operating revenues	$ 1,376	$ 380	$ 3,750	$ 1,585

Segment Disclosures and Relat_5

Segment Disclosures and Related Information - Net Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net Income (Loss) Attributable to Parent [Abstract]
Consolidated net income	$ 4,527	$ 2,379	$ 15,431	$ 5,452
Operating Segments | Alaska
Net Income (Loss) Attributable to Parent [Abstract]
Consolidated net income	580	405	1,851	935
Operating Segments | Lower 48
Net Income (Loss) Attributable to Parent [Abstract]
Consolidated net income	2,653	1,631	9,024	3,274
Operating Segments | Canada
Net Income (Loss) Attributable to Parent [Abstract]
Consolidated net income	119	155	726	267
Operating Segments | Europe, Middle East and North Africa
Net Income (Loss) Attributable to Parent [Abstract]
Consolidated net income	922	241	1,719	601
Operating Segments | Asia Pacific
Net Income (Loss) Attributable to Parent [Abstract]
Consolidated net income	520	257	2,181	749
Operating Segments | Other International
Net Income (Loss) Attributable to Parent [Abstract]
Consolidated net income	(28)	(97)	(28)	(106)
Corporate and Other
Net Income (Loss) Attributable to Parent [Abstract]
Consolidated net income	$ (239)	$ (213)	$ (42)	$ (268)

Segment Disclosures and Relat_6

Segment Disclosures and Related Information - Assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Total Assets
Total Assets	$ 94,837	$ 90,661
Corporate and Other
Total Assets
Total Assets	12,132	7,745
Alaska | Operating Segments
Total Assets
Total Assets	14,787	14,812
Lower 48 | Operating Segments
Total Assets
Total Assets	42,912	41,699
Canada | Operating Segments
Total Assets
Total Assets	6,747	7,439
Europe, Middle East and North Africa | Operating Segments
Total Assets
Total Assets	8,259	9,125
Asia Pacific | Operating Segments
Total Assets
Total Assets	9,996	9,840
Other International | Operating Segments
Total Assets
Total Assets	$ 4	$ 1

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Valuation Allowance [Line Items]
Effective tax rate	39.20%			33.60%	32.90%	34.90%
Effective income tax rate reconciliation, tax Settlement, amount			$ 515
Adjustment to valuation allowances increase (decrease)					$ 5	$ (156)
Effective income tax rate reconciliation, incremental interest deductions from debt exchanges					$ (37)	$ (75)
Norwegian Tax Administration
Valuation Allowance [Line Items]
Adjustment to valuation allowances increase (decrease)		$ 58