Properties, Plants and Equipment

6 Months Ended

Jun. 30, 2025

Property, Plant and Equipment [Abstract]

Our investment in PP&E and the associated accumulated depreciation and amortization (Accum. D&A) balances were as follows:


	Millions of Dollars
	June 30, 2025				December 31, 2024
	Gross PP&E		Accum. D&A	Net PP&E	Gross PP&E	Accum. D&A	Net PP&E

Midstream	$	28,945	5,257	23,688	26,187	4,820	21,367
Chemicals	—		—	—	—	—	—
Refining	22,802		12,912	9,890	22,274	11,991	10,283
Marketing and Specialties	989		517	472	2,091	1,267	824
Renewable Fuels	3,734		1,716	2,018	3,716	1,669	2,047
Corporate and Other	1,671		1,056	615	1,688	945	743
	$	58,141	21,458	36,683	55,956	20,692	35,264

See Note 2—Restructuring, for information regarding our intention to cease operations and begin idling the facilities at our Los Angeles Refinery. See Note 3—Business Combinations, for information regarding our acquisitions in the Midstream and Marketing and Specialties segments. See Note 9—Impairments, for information regarding PP&E impairments. See Note 23—Assets Held for Sale, regarding the pending divestiture in our Marketing and Specialties segment.