v3.26.1
Segment Information - Segment Financial Data (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Revenues:      
Total revenues $ 12,470 $ 11,477  
Significant segment expenses:      
Purchases and related costs (11,493) (10,517)  
Field operating costs (301) (300)  
Segment general and administrative expenses (81) (85)  
Total significant segment expenses (11,875) (10,902)  
Equity earnings in unconsolidated entities 89 103  
Other segment items:      
Total other segment items (109) (124)  
Segment Adjusted EBITDA 575 554  
Investment and acquisition capital expenditures 171 785  
Maintenance capital expenditures 35 33  
Investments in unconsolidated entities 2,838   $ 2,846
Product sales revenues      
Revenues:      
Total revenues 12,026 11,046  
Services      
Revenues:      
Total revenues 444 431  
Operating Segments      
Revenues:      
Total revenues 12,589 11,480  
Operating Segments | Crude Oil      
Revenues:      
Total revenues 12,548 11,439  
Significant segment expenses:      
Purchases and related costs (11,579) (10,488)  
Field operating costs (291) (292)  
Segment general and administrative expenses (76) (79)  
Total significant segment expenses (11,946) (10,859)  
Equity earnings in unconsolidated entities 89 103  
Other segment items:      
Depreciation and amortization of unconsolidated entities 20 20  
Derivative activities and inventory valuation adjustments 130 (24)  
Long-term inventory costing adjustments (112)    
Deficiencies under minimum volume commitments, net (32) (7)  
Equity-indexed compensation expense 10 9  
Foreign currency revaluation (4)    
Transaction-related expenses   5  
Segment amounts attributable to noncontrolling interests (121) (127)  
Total other segment items (109) (124)  
Segment Adjusted EBITDA 582 559  
Investment and acquisition capital expenditures 171 785  
Maintenance capital expenditures 35 31  
Investments in unconsolidated entities 2,838   2,846
Operating Segments | Crude Oil | Product sales revenues      
Revenues:      
Total revenues 12,106 11,008  
Operating Segments | Crude Oil | Services      
Revenues:      
Total revenues 442 431  
Operating Segments | NGL      
Revenues:      
Total revenues 41 41  
Significant segment expenses:      
Purchases and related costs (33) (32)  
Field operating costs (10) (8)  
Segment general and administrative expenses (5) (6)  
Total significant segment expenses (48) (46)  
Other segment items:      
Depreciation and amortization of unconsolidated entities 0    
Derivative activities and inventory valuation adjustments 0    
Long-term inventory costing adjustments 0    
Total other segment items 0 0  
Segment Adjusted EBITDA (7) (5)  
Maintenance capital expenditures 0 2  
Investments in unconsolidated entities 0   $ 0
Operating Segments | NGL | Product sales revenues      
Revenues:      
Total revenues 39 41  
Operating Segments | NGL | Services      
Revenues:      
Total revenues 2    
Intersegment Elimination      
Revenues:      
Total revenues (119) (3)  
Significant segment expenses:      
Purchases and related costs 119 3  
Field operating costs 0    
Segment general and administrative expenses 0    
Total significant segment expenses 119 3  
Intersegment Elimination | Product sales revenues      
Revenues:      
Total revenues $ (119) $ (3)