v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The following table presents our revenues from external customers disaggregated by segment and product line:

Three Months Ended 
June 30,		Six Months Ended 
June 30,
(Millions of dollars)2026202520262025
Refining & Marketing
Refined products$46,434 $29,945 $76,654 $57,372 
Crude oil2,267 1,419 3,917 2,984 
Services and other598 464 1,054 929 
Total revenues from external customers49,299 31,828 81,625 61,285 
Midstream
Refined products555 472 1,040 1,002 
Services and other900 868 1,717 1,779 
Total revenues from external customers1,455 1,340 2,757 2,781 
Renewable Diesel
Refined products1,237 629 1,804 1,244 
Services and other3 2 8 6 
Total revenues from external customers1,240 631 1,812 1,250 
Sales and other operating revenues$51,994 $33,799 $86,194 $65,316 
We do not disclose information on the future performance obligations for any contract with expected duration of one year or less at inception. As of June 30, 2026, we do not have future performance obligations that are material to future periods.
Contract Balances
Our receivables primarily consist of customer receivables. Significant, non-customer balances included in our receivables at June 30, 2026 and December 31, 2025 include matching buy/sell receivables of $7.8 billion and $4.1 billion, respectively.
Our contract liabilities primarily represent advances from our customers prior to product or service delivery. At June 30, 2026 and December 31, 2025, contract liabilities were $284 million and $215 million, respectively. Contract liabilities are included in Other current liabilities and Deferred credits and other liabilities on our Consolidated Balance Sheets. We classify contract liabilities as current or long-term based on the timing of when we expect to recognize revenue.