0001562762-21-000304 | 10-Q | XBRL Viewer

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Cover	6 Months Ended
Cover	Jun. 30, 2021 shares
Cover [Abstract]
Entity Central Index Key	0001163165
Amendment Flag	false
Entity File Number	001-32395
Entity Registrant Name	ConocoPhillips
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
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	1,339,082,083
Common Stock, $.01 Par Value [Member]
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 [Member]
Entity Listings [Line Items]
Title of 12(b) Security	7% Debentures due 2029
Trading Symbol	CUSIP—718507BK1
Security Exchange Name	NYSE

Consolidated Income Statement - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues and Other Income
Sales and other operating revenues	$ 9,556	$ 2,749	$ 19,382	$ 8,907
Equity in earnings of affiliates	139	77	261	311
Gain on dispositions	59	596	292	554
Other income (loss)	457	594	835	(945)
Total Revenues and Other Income	10,211	4,016	20,770	8,827
Costs and Expenses
Purchased commodities	2,998	1,130	7,481	3,791
Production and operating expenses	1,379	1,047	2,762	2,220
Selling, general and administrative expenses	117	156	428	153
Exploration expenses	57	97	141	285
Depreciation, depletion and amortization	1,867	1,158	3,753	2,569
Impairments	2	(2)	(1)	519
Taxes other than income taxes	381	141	751	391
Accretion on discounted liabilities	63	66	125	133
Interest and debt expense	220	202	446	404
Foreign currency transaction (gain) loss	10	7	29	(83)
Other expenses	37	(7)	61	(13)
Total Costs and Expenses	7,131	3,995	15,976	10,369
Income (loss) before income taxes	3,080	21	4,794	(1,542)
Income tax provision (benefit)	989	(257)	1,721	(109)
Net income (loss)	2,091	278	3,073	(1,433)
Less: net income attributable to noncontrolling interests	0	(18)	0	(46)
Net Income (Loss) Attributable to ConocoPhillips	$ 2,091	$ 260	$ 3,073	$ (1,479)
Net Income (Loss) Attributable to ConocoPhillips Per Share of Common Stock (dollars)
Basic	$ 1.55	$ 0.24	$ 2.32	$ (1.37)
Diluted	$ 1.55	$ 0.24	$ 2.31	$ (1.37)
Average Common Shares Outstanding (in thousands)
Basic	1,348,637	1,076,659	1,324,639	1,080,610
Diluted	1,353,201	1,077,606	1,329,507	1,080,610

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Consolidated Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 2,091	$ 278	$ 3,073	$ (1,433)
Defined benefit plans
Reclassification adjustment for amortization of prior service credit included in net income (loss)	(10)	(8)	(19)	(16)
Net actuarial gain arising during the period	30	0	105	5
Reclassification adjustment for amortization of net actuarial losses included in net income (loss)	63	18	88	36
Income taxes on defined benefit plans	(19)	(3)	(40)	(7)
Defined benefit plans, net of tax	64	7	134	18
Unrealized holding gain (loss) on securities	0	6	(1)	3
Income taxes on unrealized holding gain on securities	0	(2)	0	(1)
Unrealized holding gain (loss) on securities, net of tax	0	4	(1)	2
Foreign currency translation adjustments	96	309	165	(490)
Income taxes on foreign currency translation adjustments	0	0	0	2
Foreign currency translation adjustments, net of tax	96	309	165	(488)
Other Comprehensive Income (Loss), Net of Tax	160	320	298	(468)
Comprehensive Income (Loss)	2,251	598	3,371	(1,901)
Less: comprehensive income attributable to noncontrolling interests	0	(18)	0	(46)
Comprehensive Income (Loss) Attributable to ConocoPhillips	$ 2,251	$ 580	$ 3,371	$ (1,947)

Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 6,608	$ 2,991
Short-term investments	2,251	3,609
Accounts and notes receivable (net of allowance of $2 and $4, respectively)	4,401	2,634
Accounts and notes receivable-related parties	123	120
Investment in Cenovus Energy	1,802	1,256
Inventories	1,138	1,002
Prepaid expenses and other current assets	849	454
Total Current Assets	17,172	12,066
Investments and long-term receivables	8,013	8,017
Loans and advances-related parties	59	114
Net properties, plants and equipment (net of accumulated DD&A of $65,572 and $62,213 respectively)	57,717	39,893
Other assets	2,442	2,528
Total Assets	85,403	62,618
Liabilities
Accounts payable	3,591	2,669
Accounts payable-related parties	22	29
Short-term debt	1,205	619
Accrued income and other taxes	1,406	320
Employee benefit obligations	571	608
Other accruals	1,355	1,121
Total Current Liabilities	8,150	5,366
Long-term debt	18,805	14,750
Asset retirement obligations and accrued environmental costs	5,819	5,430
Deferred income taxes	5,331	3,747
Employee benefit obligations	1,297	1,697
Other liabilities and deferred credits	1,725	1,779
Total Liabilities	41,127	32,769
Equity
Common stock (2,500,000,000 shares authorized at $0.01 par value) Issued (2021-2,087,542,804 shares; 2020-1,798,844,267 shares)	21	18
Capital in excess of par	60,337	47,133
Treasury stock (at cost: 2021-748,460,721 shares; 2020-730,802,089 shares)	(48,278)	(47,297)
Accumulated other comprehensive loss	(4,920)	(5,218)
Retained earnings	37,116	35,213
Total Equity	44,276	29,849
Total Liabilities and Equity	$ 85,403	$ 62,618

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Consolidated Balance Sheet [Abstract]
Allowance for accounts and notes receivable	$ 2	$ 4
Accumulated depreciation, depletion and amortization	$ 65,572	$ 62,213
Common stock, shares authorized	2,500,000,000	2,500,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	2,087,542,804	1,798,844,267
Treasury stock, shares	748,460,721	730,802,089

Consolidated Statement of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash Flows From Operating Activities
Net income (loss)	$ 3,073.0	$ (1,433.0)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation, depletion and amortization	3,753.0	2,569.0
Impairments	(1.0)	519.0
Dry hole costs and leasehold impairments	7.0	70.0
Accretion on discounted liabilities	125.0	133.0
Deferred taxes	567.0	(320.0)
Undistributed equity earnings	317.0	404.0
Gain on dispositions	(292.0)	(554.0)
(Gain) loss on investment in Cenovus Energy	(726.0)	1,140.0
Other	(688.0)	(244.0)
Working capital adjustments
Decrease (increase) in accounts and notes receivable	(794.0)	1,746.0
Increase in inventories	(89.0)	(27.0)
Increase in prepaid expenses and other current assets	(388.0)	(149.0)
Increase (decrease) in accounts payable	323.0	(754.0)
Increase (decrease) in taxes and other accruals	1,144.0	(838.0)
Net Cash Provided by Operating Activities	6,331.0	2,262.0
Cash Flows From Investing Activities
Cash acquired from Concho	382.0	0.0
Capital expenditures and investments	(2,465.0)	(2,525.0)
Working capital changes associated with investing activities	2.0	(251.0)
Proceeds from asset dispositions	160.0	1,313.0
Net sales (purchases) of investments	1,302.0	(1,030.0)
Collection of advances/loans-related parties	52.0	66.0
Other	86.0	(35.0)
Net Cash Used in Investing Activities	(481.0)	(2,462.0)
Cash Flows From Financing Activities
Repayment of debt	(44.0)	(214.0)
Issuance of company common stock	(25.0)	2.0
Repurchase of company common stock	(981.0)	(726.0)
Dividends paid	(1,171.0)	(913.0)
Other	3.0	(28.0)
Net Cash Used in Financing Activities	(2,218.0)	(1,879.0)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	9.0	(93.0)
Net Change in Cash, Cash Equivalents and Restricted Cash	3,641.0	(2,172.0)
Cash, cash equivalents and restricted cash at beginning of period	3,315.0	5,362.0
Cash, cash equivalents and restricted cash at end of period	$ 6,956.0	$ 3,190.0

Consolidated Statement of Cash Flows - Restricted Cash	6 Months Ended
Consolidated Statement of Cash Flows - Restricted Cash	Jun. 30, 2021
Consolidated Statement of Cash Flows [Abstract]
Consolidated Statement of Cash Flows - Restricted Cash	Restricted cash of $ 95 million and $ 253 million are included in the "Prepaid expenses and other current assets" and "Other assets" lines, respectively, of our Consolidated Balance Sheet as of June 30, 2021. Restricted cash of $ 94 million and $ 230 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, 2020. See Notes to Consolidated Financial Statements.

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2021
Basis of Presentation [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 and 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 2020 Annual Report on Form 10-K.

Inventories	6 Months Ended
Inventories	Jun. 30, 2021
Inventories [Abstract]
Inventories	Note 2—Inventories Inventories consisted of the following: Millions of Dollars June 30 December 31 2021 2020 Crude oil and natural gas $ 572 461 Materials and supplies 566 541 $ 1,138 1,002 Inventories valued on the LIFO basis totaled $ 348 million and $ 282 million at June 30, 2021 and December 31, 2020, respectively.

Acquisitions and Dispositions	6 Months Ended
Acquisitions and Dispositions	Jun. 30, 2021
Acquisitions and Dispositions [Abstract]
Acquisitions and Dispositions	Note 3—Acquisitions and Dispositions Acquisition of Concho Resources Inc. (Concho) We completed our acquisition of Concho on January 15, 2021 and as defined under the terms of the transaction agreement, each share of Concho common stock was exchanged for 1.46 shares of ConocoPhillips common stock, for total consideration of $ 13.1 billion. Total Consideration Number of shares of Concho common stock issued and outstanding (in thousands)* 194,243 Number of shares of Concho stock awards outstanding (in thousands)* 1,599 Number of shares exchanged 195,842 Exchange ratio 1.46 Additional shares of ConocoPhillips common stock issued as consideration (in thousands) 285,929 Average price per share of ConocoPhillips common stock** $ 45.9025 Total Consideration (Millions) $ 13,125 Outstanding as of January 15, 2021. *Based on the ConocoPhillips average stock price on January 15, 2021. The transaction was accounted for as a business combination under FASB 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. Debt assumed in the acquisition was valued based on observable market prices. The fair values determined for accounts receivables, 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 $ 13.1 billion was allocated to the identifiable assets and liabilities based on their fair values as of January 15, 2021. Assets Acquired Millions of Dollars Cash and cash equivalents $ 382 Accounts receivable, net 742 Inventories 45 Prepaid expenses and other current assets 37 Investments and long-term receivables 333 Net properties, plants and equipment 18,971 Other assets 62 Total assets acquired $ 20,572 Liabilities Assumed Accounts payable $ 638 Accrued income and other taxes 49 Employee benefit obligations 4 Other accruals 510 Long-term debt 4,696 Asset retirement obligations and accrued environmental costs 310 Deferred income taxes 1,123 Other liabilities and deferred credits 117 Total liabilities assumed $ 7,447 Net assets acquired $ 13,125 With the completion of the Concho transaction, we acquired proved and unproved properties of approximately $ 11.8 billion and $ 6.9 billion, respectively. We recognized approximately $ 157 million of transaction-related costs that were expensed in the first quarter of 2021. These non-recurring costs related primarily to fees paid to advisors and the settlement of share-based awards for certain Concho employees based on the terms of the Merger Agreement. In the first quarter of 2021, we commenced a restructuring program, the scope of which included combining the operations of the two companies. For the three- and six-month periods ending June 30, 2021, we recognized non-recurring restructuring costs mainly for employee severance and related incremental pension benefit costs of approximately $ 23 million and $ 157 million, respectively. The impact from these transaction and restructuring costs to the lines of our consolidated income statement for the six-month period ending June 30, 2021, are below: Millions of Dollars Transaction Cost Restructuring Cost Total Cost Production and operating expenses $ 70 70 Selling, general and administration expenses 135 52 187 Exploration expenses 18 4 22 Taxes other than income taxes 4 2 6 Other expenses - 29 29 $ 157 157 314 On February 8, 2021, we completed a debt exchange offer related to the debt assumed from Concho. As a result of the debt exchange, we recognized an additional income tax related restructuring charge of $ 75 million. From the acquisition date through June 30, 2021, “Total Revenues and Other Income” and “Net Income (Loss) Attributable to ConocoPhillips” associated with the acquired Concho business were approximately $ 2,637 million and $ 828 million, respectively. The results associated with the Concho business include a before- and after-tax loss of $ 305 million and $ 233 million, respectively, on the acquired derivative contracts. The before- tax loss is recorded within “Total Revenues and Other Income” on our consolidated income statement. The following summarizes the unaudited supplemental pro forma financial information as if we had completed the acquisition of Concho on January 1, 2020: Millions of Dollars Supplemental Pro Forma (unaudited) Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 Total revenues and other income $ 4,065 11,365 Net loss (229) (619) Net loss attributable to ConocoPhillips (247) (665) $ per share Earnings per share: Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 Basic net loss $ (0.18) (0.49) Diluted net loss (0.18) (0.49) The unaudited supplemental pro forma financial information is presented for illustration 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 six-month periods ending June 30, 2020 is a result of combining the consolidated income statement of ConocoPhillips with the results of Concho. 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 to reverse impairment expense of $ 10.5 billion and $ 1.9 billion recorded by Concho in the six-month period ending June 30, 2020, related to oil and gas properties and goodwill, respectively. Other adjustments made relate 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. Assets Sold In 2020, we completed the sale of our Australia-West asset and operations. The sales agreement entitled us to a $ 200 million payment upon a final investment decision (FID) of the Barossa development project. On March 30, 2021, FID was announced and as such, we recognized a $ 200 million gain on disposition in the first quarter of 2021. The purchaser failed to pay the FID bonus when due. We have commenced an arbitration proceeding against the purchaser to enforce our contractual right to the $ 200 million, plus interest accruing from the due date. Results of operations related to this transaction are reflected in our Asia Pacific segment. In 2017, we completed the sale of our 50 percent nonoperated interest in the Foster Creek Christina Lake (FCCL) Partnership, as well as the majority of our western Canada gas assets to Cenovus Energy (CVE). Consideration for the transaction included a five-year, uncapped contingent payment. The contingent payment, calculated on a quarterly basis, is $6 million CAD for every $1 CAD by which the WCS quarterly average crude price exceeds $52 CAD per barrel . For the three- and six-months ended June 30, 2021, we recorded contingent payments of $ 68 million and $ 94 million, respectively. No contingent payments were recorded in 2020. Contingent payments are recorded as gain on dispositions on our consolidated income statement and reflected in our Canada segment. Planned Dispositions In July 2021, we entered into divestiture agreements to sell our interests in certain noncore assets in our Lower 48 segment. Proceeds from these agreements total approximately $ 0.2 billion before customary adjustments. The transactions are expected to close in the third quarter of 2021.

Investments, Loans and Long-Term Receivables	6 Months Ended
Investments, Loans and Long-Term Receivables	Jun. 30, 2021
Investments, Loans and Long-Term Receivables [Abstract]
Investments, Loans and Long-Term Receivables	Note 4—Investments, Loans and Long-Term Receivables Australia Pacific LNG Pty Ltd (APLNG) APLNG executed project financing agreements for an $ 8.5 billion project finance facility in 2012. All amounts were drawn from the facility. The project financing facility has been restructured over time and at June 30, 2021, this facility was 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 made its first principal and interest repayment in March 2017 and is scheduled to make bi-annual payments until September 2030. At June 30, 2021, a balance of $ 6.0 billion was outstanding on the current facilities. During the fourth quarter of 2020, the estimated fair value of our investment in APLNG declined to an amount below carrying value, primarily due to the weakening of the U.S. dollar relative to the Australian dollar. Based on a review of the facts and circumstances surrounding this decline in fair value, we concluded the impairment was not other than temporary under the guidance of FASB ASC Topic 323, “Investments – Equity Method and Joint Ventures.” Due primarily to improved outlooks for commodity prices and the strengthening of the U.S. dollar relative to the Australian dollar during the first six months of 2021, the estimated fair value of our investment increased and is above carrying value at June 30, 2021. We will continue to monitor the relationship between the carrying value and fair value of APLNG. At June 30, 2021, 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 and Long-Term Receivables As part of our normal ongoing business operations, and consistent with industry practice, 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 June 30, 2021, significant loans to affiliated companies included $ 168 million in project financing to Qatar Liquefied Gas Company Limited (3). On our consolidated balance sheet, the long-term portion of these loans is included in the “Loans and advances—related parties” line, while the short-term portion is in the “Accounts and notes receivable—related parties” line.

Investment in Cenovus Energy	6 Months Ended
Investment in Cenovus Energy	Jun. 30, 2021
Investment In Cenovus Energy [Abstract]
Investment in Cenovus Energy	Note 5—Investment in Cenovus Energy Our investment in CVE shares is carried on our consolidated balance sheet at fair value of $ 1.8 billion based on the closing price of $ 9.58 per share on the NYSE on the last trading day of the quarter. At June 30, 2021 and December 31, 2020, we held 188 million and 208 million shares of CVE common stock, respectively. At June 30, 2021, our investment approximated 9.3 percent of the issued and outstanding CVE common stock. During the second quarter, we sold 20 million shares of our CVE common stock, recognizing proceeds of $ 180 million, of which $ 166 was received in the second quarter. Subject to market conditions, we intend to continue to decrease our investment over time. All gains and losses are recognized within “Other income (loss)” on our consolidated income statement. Proceeds related to the sale of our CVE shares are presented within “Cash Flows from Investing Activities” on our consolidated cash flow statement. Gains and losses recorded in other income (loss) for our investment in CVE were: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2021 2020 2021 2020 Total net gain (loss) on equity securities $ 418 551 726 (1,140) Less: Net gain on equity securities sold during the period (31) - (60) - Unrealized gain (loss) on equity securities still held at the reporting date $ 387 551 666 (1,140)

Debt	6 Months Ended
Debt	Jun. 30, 2021
Debt [Abstract]
Debt	Note 6—Debt Our debt balance at June 30, 2021, was $ 20.0 billion compared with $ 15.4 billion at December 31, 2020. On January 15, 2021, we completed the acquisition of Concho in an all-stock transaction. In the acquisition, we assumed Concho’s publicly traded debt, with an outstanding principal balance of $ 3.9 billion, which was recorded at fair value of $ 4.7 billion on the acquisition date. Debt assumed consisted of the following: ● 3.75 % Notes due 2027 with principal of $ 1,000 million ● 4.3 % Notes due 2028 with principal of $ 1,000 million ● 2.4 % Notes due 2031 with principal of $ 500 million ● 4.875 % Notes due 2047 with principal of $ 800 million ● 4.85 % Notes due 2048 with principal of $ 600 million The adjustment to fair value of the senior notes of approximately $ 0.8 billion on the acquisition date will be amortized as an adjustment to interest expense over the remaining contractual terms of the senior notes. In the first quarter of 2021, we completed a debt exchange offer related to the debt assumed from Concho. Of the approximately $ 3.9 billion in aggregate principal amount of Concho’s senior notes offered in the exchange, 98 percent, or approximately $ 3.8 billion, were tendered and accepted. The new debt issued by ConocoPhillips had the same interest rates and maturity dates as the Concho senior notes. The portion not exchanged, approximately $ 67 million, remained outstanding across five series of senior notes issued by Concho. The debt exchange was treated as a debt modification for accounting purposes resulting in a portion of the unamortized fair value adjustment of the Concho senior notes allocated to the new debt issued by ConocoPhillips on the settlement date of the exchange. The new debt issued in the exchange is fully and unconditionally guaranteed by ConocoPhillips Company. We have a revolving credit facility totaling $ 6.0 billion with an expiration date of May 2023 . 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 $ 6.0 billion of commercial paper. Commercial paper is generally limited to maturities of 90 days and is included in the short-term debt on our consolidated balance sheet. With $ 300 million of commercial paper outstanding and no direct borrowings or letters of credit, we had access to $ 5.7 billion in available borrowing capacity under our revolving credit facility at June 30, 2021. At December 31, 2020, we had $ 300 million of commercial paper outstanding and no direct borrowings or letters of credit issued. In January 2021, Fitch affirmed its rating of our long-term debt as “A” with a “stable” outlook and affirmed its rating of our short-term debt as “F1+.” On January 25, 2021, S&P revised its industry risk assessment of the E&P industry to “Moderately High” from “Intermediate” based on a view of increasing risks from the energy transition, price volatility, and weaker profitability. On February 11, 2021, S&P downgraded its rating of our long-term debt from “A” to “A-” with a “stable” outlook and downgraded its rating of our short-term debt from “A-1” to “A-2.” In May 2021, Moody’s affirmed its rating of our senior long-term debt of “A3” with a “stable” outlook. Moody’s rates our short-term debt as “Prime-2.” 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 rating 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 June 30, 2021, 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	6 Months Ended
Changes in Equity	Jun. 30, 2021
Changes in Equity [Abstract]
Changes in Equity	Note 7—Changes in Equity Millions of Dollars Attributable to ConocoPhillips Common Stock Par Value Capital in Excess of Par Treasury Stock Accum. Other Comprehensive Income (Loss) Retained Earnings Non- Controlling Interests Total For the three months ended June 30, 2021 Balances at March 31, 2021 $ 21 60,278 (47,672) (5,080) 35,608 43,155 Net income 2,091 2,091 Other comprehensive income 160 160 Dividends paid ($ 0.43 per common share) (583) (583) Repurchase of company common stock (606) (606) Distributed under benefit plans 59 59 Balances at June 30, 2021 $ 21 60,337 (48,278) (4,920) 37,116 44,276 For the six months ended June 30, 2021 Balances at December 31, 2020 $ 18 47,133 (47,297) (5,218) 35,213 29,849 Net income 3,073 3,073 Other comprehensive income 298 298 Dividends paid ($ 0.86 per common share) (1,171) (1,171) Acquisition of Concho 3 13,122 13,125 Repurchase of company common stock (981) (981) Distributed under benefit plans 82 82 Other 1 1 Balances at June 30, 2021 $ 21 60,337 (48,278) (4,920) 37,116 44,276 Millions of Dollars Attributable to ConocoPhillips Common Stock Par Value Capital in Excess of Par Treasury Stock Accum. Other Comprehensive Income (Loss) Retained Earnings Non- Controlling Interests Total For the three months ended June 30, 2020 Balances at March 31, 2020 $ 18 47,027 (47,130) (6,145) 37,545 72 31,387 Net income 260 18 278 Other comprehensive income 320 320 Dividends paid ($ 0.42 per common share) (455) (455) Distributions to noncontrolling interests and other (6) (6) Dispositions (84) (84) Distributed under benefit plans 52 52 Other 1 1 Balances at June 30, 2020 $ 18 47,079 (47,130) (5,825) 37,351 - 31,493 For the six months ended June 30, 2020 Balances at December 31, 2019 $ 18 46,983 (46,405) (5,357) 39,742 69 35,050 Net income (1,479) 46 (1,433) Other comprehensive loss (468) (468) Dividends paid ($ 0.84 per common share) (913) (913) Repurchase of company common stock (726) (726) Distributions to noncontrolling interests and other (32) (32) Dispositions (84) (84) Distributed under benefit plans 96 96 Other 1 1 1 3 Balances at June 30, 2020 $ 18 47,079 (47,130) (5,825) 37,351 - 31,493

Guarantees	6 Months Ended
Guarantees	Jun. 30, 2021
Guarantees [Abstract]
Guarantees	Note 8—Guarantees At June 30, 2021, 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 June 30, 2021, we had outstanding multiple guarantees in connection with our 37.5 percent ownership interest in APLNG. The following is a description of the guarantees with values calculated utilizing June 2021 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 10 years . Our maximum exposure under this guarantee is approximately $ 170 million and may become payable if an enforcement action is commenced by the project finance lenders against APLNG. At June 30, 2021, the carrying value of this guarantee was $ 14 million. ● In conjunction with our original purchase of an ownership interest in APLNG from Origin Energy in October 2008, we agreed to reimburse Origin Energy 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 with remaining terms of 1 to 21 years . Our maximum potential liability for future payments, or cost of volume delivery, under these guarantees is estimated to be $ 710 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 16 to 24 years or the life of the venture . Our maximum potential amount of future payments related to these guarantees is approximately $ 180 million and would become payable if APLNG does not perform. At June 30, 2021, the carrying value of these guarantees was $ 11 million. Other Guarantees We have other guarantees with maximum future potential payment amounts totaling approximately $ 740 million, which consist primarily of guarantees of the residual value of leased office buildings, guarantees of the residual value of corporate aircrafts, and a guarantee for our portion of a joint venture’s project finance reserve accounts. These guarantees have remaining terms of two to five years and would become payable if certain asset values are lower than guaranteed amounts at the end of the lease or contract term, business conditions decline at guaranteed entities, or as a result of nonperformance of contractual terms by guaranteed parties. At June 30, 2021, the carrying value of these guarantees was $ 11 million. 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. Most of these indemnifications are related to tax issues and the majority of these expire in 2021. Those related to environmental issues have terms that are generally indefinite and the maximum amounts of future payments are generally unlimited. The carrying amount recorded for these indemnification obligations at June 30, 2021, was $ 50 million. We amortize the indemnification liability over the relevant time period the indemnity is in effect, if one exists, based on the facts and circumstances surrounding each type of indemnity. In cases where the indemnification term is indefinite, we will reverse the liability when we have information the liability is essentially relieved or amortize the liability over an appropriate time period as the fair value of our indemnification exposure declines. 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.

Contingencies and Commitments	6 Months Ended
Contingencies and Commitments	Jun. 30, 2021
Contingencies and Commitments [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 June 30, 2021, our balance sheet included a total environmental accrual of $ 188 million, compared with $ 180 million at December 31, 2020, 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 from historic operations, and other contract disputes. 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 June 30, 2021, we had performance obligations secured by letters of credit of $ 222 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. Annulment proceedings are underway. 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. To date, ConocoPhillips has received approximately $ 754 million. 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. 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. The Office of Natural Resources Revenue (ONRR) has conducted audits of ConocoPhillips’ payment of royalties on federal lands and has issued multiple orders to pay additional royalties to the federal government. ConocoPhillips and the ONRR entered into a settlement agreement on March 23, 2021, to resolve the dispute. All orders and associated appeals have been withdrawn with prejudice. Beginning in 2017, cities, counties, governments 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 involved in these cases are unprecedented. 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. 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 has not had any connection to the operation or production on this lease since that time. ConocoPhillips is challenging this order. 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 a final investment decision (FID) of the Barossa development project under the sale and purchase agreement. Santos KOTN Pty Ltd. and Santos Limited have filed a response and counterclaim, and the arbitration is underway.

Derivative and Financial Instruments	6 Months Ended
Derivative and Financial Instruments	Jun. 30, 2021
Derivative and Financial Instruments [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 June 30 December 31 2021 2020 Assets Prepaid expenses and other current assets $ 685 229 Other assets 89 26 Liabilities Other accruals 688 202 Other liabilities and deferred credits 64 18 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 Six Months Ended June 30 June 30 2021 2020 2021 2020 Sales and other operating revenues $ (100) (50) (379) (3) Other income (loss) (1) 3 16 5 Purchased commodities 132 24 145 (2) On January 15, 2021, we assumed financial derivative instruments consisting of oil and natural gas swaps in connection with the acquisition of Concho. At the acquisition date, the financial derivative instruments acquired were recognized at fair value as a net liability of $ 456 million with settlement dates under the contracts through December 31, 2022. During the first quarter of 2021, we recognized a loss of $ 173 million on Concho derivative contracts with settlement dates on or before March 31, 2021, and an additional $ 132 million loss related to all remaining Concho derivative contracts with settlement dates subsequent to March 31, 2021, for a total loss of $ 305 million. This loss associated with the acquired financial instruments is recorded within the “Sales and other operating revenues” line on our consolidated income statement. By the end of March 2021, all oil and natural gas derivative financial instruments acquired from Concho were contractually settled. In connection with the settlement, we issued a cash payment of $ 692 million in the first quarter of 2021 and $ 69 million in the second quarter of 2021. Cash settlements related to the Concho derivative contracts are presented within “Cash Flows From Operating Activities” on our consolidated cash flow statement. The table below summarizes our material net exposures resulting from outstanding commodity derivative contracts: Open Position Long/(Short) June 30 December 31 2021 2020 Commodity Natural gas and power (billions of cubic feet equivalent) Fixed price 18 (20) Basis (6) (10) 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 June 30, 2021 and December 31, 2020: Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments Investments and Long- Term Receivables June 30 December 31 June 30 December 31 June 30 December 31 2021 2020 2021 2020 2021 2020 Cash $ 899 597 Demand Deposits 1,541 1,133 Time Deposits 1 to 90 days 4,104 1,225 1,537 2,859 91 to 180 days 270 448 Within one year 209 13 One year through five years 2 1 U.S. Government Obligations 1 to 90 days 16 23 - - $ 6,560 2,978 2,016 3,320 2 1 The following investments in debt securities classified as available for sale are carried at fair value on our consolidated balance sheet at June 30, 2021 and December 31, 2020: Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments Investments and Long-Term Receivables June 30 December 31 June 30 December 31 June 30 December 31 2021 2020 2021 2020 2021 2020 Major Security Type Corporate Bonds $ - - 105 130 182 143 Commercial Paper 48 13 116 155 U.S. Government Obligations - - 2 4 8 13 U.S. Government Agency Obligations 10 17 Foreign Government Obligations 10 - - 2 Asset-backed Securities 2 - 52 41 $ 48 13 235 289 252 216 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 eight 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 June 30 December 31 June 30 December 31 2021 2020 2021 2020 Major Security Type Corporate bonds $ 286 271 287 273 Commercial paper 164 168 164 168 U.S. government obligations 10 17 10 17 U.S. government agency obligations 10 17 10 17 Foreign government obligations 10 2 10 2 Asset-backed securities 54 41 54 41 $ 534 516 535 518 At June 30, 2021 and December 31, 2020, total unrealized losses for debt securities classified as available for sale with net losses were negligible. Additionally, at June 30, 2021 and December 31, 2020, investments in these debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded were negligible. For the three- and six-month periods ended June 30, 2021, proceeds from sales and redemptions of investments in debt securities classified as available for sale were $ 173 million and $ 320 million, respectively. For the three- and six-month periods ended June 30, 2020, proceeds from sales and redemptions of investments in debt securities classified as available for sale were $ 126 million and $ 189 million, 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, government debt securities, 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, U.S. government and government agency obligations, asset-backed securities, and time deposits with major international banks and financial institutions. 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 June 30, 2021 and December 31, 2020, was $ 86 million and $ 25 million, respectively. For these instruments, no collateral was posted at June 30, 2021 or December 31, 2020. If our credit rating had been downgraded below investment grade at June 30, 2021, we would have been required to post $ 70 million of additional collateral, either with cash or letters of credit.

Fair Value Measurement	6 Months Ended
Fair Value Measurement	Jun. 30, 2021
Fair Value Measurement [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 following hierarchy: ● Level 1: Quoted prices (unadjusted) in an active market for identical assets or liabilities. ● Level 2: Inputs other than quoted prices that are directly or indirectly observable. ● Level 3: Unobservable inputs that are significant to the fair value of assets or liabilities. 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 three- and six-month periods ended June 30, 2021, nor during the year ended December 31, 2020. Recurring Fair Value Measurement Financial assets and liabilities reported at fair value on a recurring basis primarily include 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 June 30, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Investment in CVE shares $ 1,802 - - 1,802 1,256 - - 1,256 Investments in debt securities 10 525 - 535 17 501 - 518 Commodity derivatives 402 349 23 774 142 101 12 255 Total assets $ 2,214 874 23 3,111 1,415 602 12 2,029 Liabilities Commodity derivatives $ 399 287 66 752 120 91 9 220 Total liabilities $ 399 287 66 752 120 91 9 220 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 Not Gross Net Amounts Subject to Gross Amounts Amounts Cash Net Recognized Right of Setoff Amounts Offset Presented Collateral Amounts June 30, 2021 Assets $ 774 28 746 464 282 - 282 Liabilities 752 26 726 464 262 17 245 December 31, 2020 Assets $ 255 2 253 157 96 10 86 Liabilities 220 1 219 157 62 4 58 At June 30, 2021 and December 31, 2020, 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 CVE: 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. 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. 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 June 30 December 31 June 30 December 31 2021 2020 2021 2020 Financial assets Investment in CVE shares $ 1,802 1,256 1,802 1,256 Commodity derivatives 310 88 310 88 Investments in debt securities 535 518 535 518 Loans and advances—related parties 168 220 168 220 Financial liabilities Total debt, excluding finance leases 19,135 14,478 23,376 19,106 Commodity derivatives 271 59 271 59

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Accumulated Other Comprehensive Loss	6 Months Ended
Accumulated Other Comprehensive Loss	Jun. 30, 2021
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	Note 12—Accumulated Other Comprehensive Loss Accumulated other comprehensive loss in the equity section of our consolidated balance sheet included: Millions of Dollars Defined Benefit Plans Net Unrealized Gain (Loss) on Securities Foreign Currency Translation Accumulated Other Comprehensive Loss December 31, 2020 $ (425) 2 (4,795) (5,218) Other comprehensive income (loss) 134 (1) 165 298 June 30, 2021 $ (291) 1 (4,630) (4,920) The following table summarizes reclassifications out of accumulated other comprehensive loss and into net income (loss): Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2021 2020 2021 2020 Defined benefit plans $ 42 8 54 16 The above amounts are included in the computation of net periodic benefit cost and are presented net of tax expense of $ 11 million and $ 2 million for the three-month periods ended June 30, 2021 and June 30, 2020, respectively, and $ 15 million and $ 4 million for the six-month periods ended June 30, 2021 and June 30, 2020, respectively .

Cash Flow Information	6 Months Ended
Cash Flow Information	Jun. 30, 2021
Cash Flow Information [Abstract]
Cash Flow Information	Note 13—Cash Flow Information Millions of Dollars Six Months Ended June 30 2021 2020 Cash Payments Interest $ 464 397 Income taxes 107 761 Net Sales (Purchases) of Investments Short-term investments purchased $ (5,439) (7,021) Short-term investments sold 6,842 6,147 Long-term investments purchased (149) (208) Long-term investments sold 48 52 $ 1,302 (1,030)

Employee Benefit Plans	6 Months Ended
Employee Benefit Plans	Jun. 30, 2021
Employee Benefit Plans [Abstract]
Employee Benefit Plans	Note 14—Employee Benefit Plans Pension and Postretirement Plans Millions of Dollars Pension Benefits Other Benefits 2021 2020 2021 2020 U.S. Int'l. U.S. Int'l. Components of Net Periodic Benefit Cost Three Months Ended June 30 Service cost $ 18 16 21 13 1 - Interest cost 15 20 17 20 1 1 Expected return on plan assets (20) (30) (21) (34) - - Amortization of prior service credit - - - - (10) (8) Recognized net actuarial loss 12 8 13 5 1 - Settlements 42 - - - - - Net periodic benefit cost $ 67 14 30 4 (7) (7) Six Months Ended June 30 Service cost $ 39 31 42 27 1 1 Interest cost 28 40 34 42 2 3 Expected return on plan assets (44) (60) (42) (71) - - Amortization of prior service credit - - - - (19) (16) Recognized net actuarial loss 27 16 25 11 1 - Settlements 44 - 1 (1) - - Curtailments 12 - - - - - Special Termination Benefits 9 - - - - - Net periodic benefit cost $ 115 27 60 8 (15) (12) The components of net periodic benefit cost, other than the service cost component, are included in the “Other expenses” line item on our consolidated income statement. During the three-month period ended June 30, 2021, lump-sum benefit payments exceeded the sum of service and interest costs for the year for the U.S. qualified pension plan and a U.S. non-qualified supplemental retirement plan. As a result, we recognized a proportionate share of prior actuarial losses from other comprehensive income as pension settlement expense of $ 42 million. 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. non-qualified supplemental retirement plan were remeasured at June 30, 2021. At the measurement date, the net pension liability decreased by $ 30 million, primarily a result of better actual return on assets compared with the expected return, partially offset by a decrease in the discount rate, resulting in a corresponding increase to other comprehensive income. As part of our restructuring program, we concluded that actions taken during the first quarter of 2021, would result in a significant reduction of future service of active employees in the U.S. qualified pension plan, a U.S. nonqualified supplemental retirement plan and the U.S. other postretirement benefit plans. As a result, we recognized an increase in the benefit obligation as a curtailment loss of $ 12 million on the U.S. pension benefit plans in the first quarter of 2021. In conjunction with the recognition of curtailment losses, the fair market values of pension plan assets were updated, and the pension benefit obligations of the U.S. qualified pension, a U.S. nonqualified supplemental retirement plan and the U.S. other postretirement benefit plans were remeasured. At March 31, 2021, the net pension liability decreased by $ 76 million, primarily as a result of discount rate increases for each plan offset by lower than premised return on assets on the U.S. qualified pension plan, resulting in a corresponding increase to other comprehensive income. The relevant discount rates are summarized in the following table: June 30 March 31 December 31 Discount rate 2021 2021 2020 U.S. qualified pension plan % 2.65 3.00 2.40 U.S. nonqualified pension plan 2.15 2.40 1.85 U.S. postretirement benefit plans * 2.80 2.20 * Not remeasured at June 30, 2021. During the first six months of 2021, we contributed $ 269 million to our domestic benefit plans and $ 63 million to our international benefit plans. In 2021, we expect to contribute a total of approximately $ 365 million to our domestic qualified and nonqualified pension and postretirement benefit plans and $ 97 million to our international qualified and nonqualified pension and postretirement benefit plans. Severance Accrual The following table summarizes our severance accrual activity for the six-month period ended June 30, 2021: Millions of Dollars Balance at December 31, 2020 $ 24 Accruals 102 Benefit payments (91) Balance at June 30, 2021 $ 35 Accruals include severance costs associated with our restructuring program. Of the remaining balance at June 30, 2021, $ 20 million is classified as short-term.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2021
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. Significant transactions with our equity affiliates were: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2021 2020 2021 2020 Operating revenues and other income $ 24 21 40 38 Purchases 3 - 3 - Operating expenses and selling, general and administrative expenses 63 12 89 27 Net interest (income) expense* - (2) (1) (4) *We paid interest to, or received interest from, various affiliates.

Sales and Other Operating Revenues	6 Months Ended
Sales and Other Operating Revenues	Jun. 30, 2021
Sales and Other Operating Revenues [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 Six Months Ended June 30 June 30 2021 2020 2021 2020 Revenue from contracts with customers $ 7,753 1,919 14,914 6,830 Revenue from contracts outside the scope of ASC Topic 606 Physical contracts meeting the definition of a derivative 1,754 856 4,728 2,152 Financial derivative contracts 49 (26) (260) (75) Consolidated sales and other operating revenues $ 9,556 2,749 19,382 8,907 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 Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2021 2020 2021 2020 Revenue from Outside the Scope of ASC Topic 606 by Segment Lower 48 $ 1,345 698 3,811 1,674 Canada 207 121 510 300 Europe, Middle East and North Africa 202 37 407 178 Physical contracts meeting the definition of a derivative $ 1,754 856 4,728 2,152 Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2021 2020 2021 2020 Revenue from Outside the Scope of ASC Topic 606 by Product Crude oil $ 178 26 302 118 Natural gas 1,504 763 4,231 1,853 Other 72 67 195 181 Physical contracts meeting the definition of a derivative $ 1,754 856 4,728 2,152 Practical Expedients Typically, our commodity sales contracts are less than 12 months in duration; however, in certain specific cases 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 June 30, 2021, the “Accounts and notes receivable” line on our consolidated balance sheet, includes trade receivables of $ 3,504 million compared with $ 1,827 million at December 31, 2020, 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 contractual arrangements where we license proprietary technology to customers related to the optimization process for operating LNG plants. The agreements typically provide for negotiated payments to be made at stated milestones. The payments are not directly related to our performance under the contract and are recorded as deferred revenue to be recognized as revenue when the customer can utilize and benefit from their right to use the license. Payments are received in installments over the construction period. Millions of Dollars Contract Liabilities At December 31, 2020 $ 97 Contractual payments received 7 Revenue recognized (62) At June 30, 2021 $ 42 Amounts Recognized in the Consolidated Balance Sheet at June 30, 2021 Current liabilities $ 42 For the six-month period of 2021, we recognized revenue of $62 million in the “Sales and other operating revenues” line on our consolidated income statement. No revenue was recognized during the three-month period ended June 30, 2021. We expect to recognize the contract liabilities as of June 30, 2021, as revenue during 2022.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Segment Disclosures and Related Information	6 Months Ended
Segment Disclosures and Related Information	Jun. 30, 2021
Segment Disclosures and Related Information [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) attributable to ConocoPhillips. Intersegment sales are at prices that approximate market. Effective in the third quarter of 2020, we restructured our segments to align with changes to our internal organization. The Middle East business was realigned from the Asia Pacific and Middle East segment to the Europe and North Africa segment. The segments have been renamed the Asia Pacific segment and the Europe, Middle East and North Africa segment. We have revised segment information disclosures and segment performance metrics presented within our results of operations for the prior comparative periods. On January 15, 2021, we completed our acquisition of Concho, an independent oil and gas exploration and production company with operations across New Mexico and West Texas. Results of operations for Concho are included in our Lower 48 segment for the current period. Certain transaction and restructuring costs associated with the Concho acquisition are included in our Corporate and Other segment. Analysis of Results by Operating Segment Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2021 2020 2021 2020 Sales and Other Operating Revenues Alaska $ 1,418 419 2,551 1,532 Intersegment eliminations - 19 - 19 Alaska 1,418 438 2,551 1,551 Lower 48 5,889 1,433 12,402 4,536 Intersegment eliminations (2) (28) (4) (38) Lower 48 5,887 1,405 12,398 4,498 Canada 802 165 1,669 678 Intersegment eliminations (352) - (657) (180) Canada 450 165 1,012 498 Europe, Middle East and North Africa 1,165 288 2,143 888 Asia Pacific 630 450 1,207 1,453 Other International 2 1 3 4 Corporate and Other 4 2 68 15 Consolidated sales and other operating revenues $ 9,556 2,749 19,382 8,907 Sales and Other Operating Revenues by Geographic Location (1) United States $ 7,308 1,844 15,015 6,061 Australia - 168 - 605 Canada 450 165 1,012 498 China 171 67 326 213 Indonesia 207 132 403 336 Libya 290 - 520 44 Malaysia 252 83 478 299 Norway 618 242 1,030 688 United Kingdom 257 46 593 156 Other foreign countries 3 2 5 7 Worldwide consolidated $ 9,556 2,749 19,382 8,907 Sales and Other Operating Revenues by Product Crude oil $ 5,797 1,216 10,292 4,660 Natural gas 2,812 1,190 7,323 2,845 Natural gas liquids 325 84 562 235 Other (2) 622 259 1,205 1,167 Consolidated sales and other operating revenues by product $ 9,556 2,749 19,382 8,907 (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 Six Months Ended June 30 June 30 2021 2020 2021 2020 Net Income (Loss) Attributable to ConocoPhillips Alaska $ 371 (141) 530 (60) Lower 48 1,175 (365) 1,643 (802) Canada 102 (86) 112 (195) Europe, Middle East and North Africa 207 25 360 226 Asia Pacific 175 648 492 920 Other International (5) (6) (9) 22 Corporate and Other 66 185 (55) (1,590) Consolidated net income (loss) attributable to ConocoPhillips $ 2,091 260 3,073 (1,479) Millions of Dollars June 30 December 31 2021 2020 Total Assets Alaska $ 14,636 14,623 Lower 48 32,309 11,932 Canada 6,991 6,863 Europe, Middle East and North Africa 8,616 8,756 Asia Pacific 10,721 11,231 Other International 239 226 Corporate and Other 11,891 8,987 Consolidated total assets $ 85,403 62,618

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2021
Income Taxes [Abstract]
Income Taxes	Note 18—Income Taxes Our effective tax rate was 32 percent in the three-month period ended June 30, 2021 and was negative for the comparable period of 2020. Both periods were primarily impacted by shifts in our before-tax income between higher and lower tax jurisdictions as well as the change in our U.S. valuation allowance driven by the fair value measurement of our CVE common shares. Our effective tax rates for the six-months ended June 30, 2021 and 2020 were 36 percent and 7 percent, respectively and both periods were impacted by the same items noted above. Additionally, our effective tax rate for the six-month period ended June 30, 2021 was adversely impacted by $ 75 million due to incremental interest deductions from the exchange of debt acquired from Concho offsetting U.S. foreign source revenue that would otherwise have been offset by foreign tax credits. The six-month period ending June 30, 2020, was also impacted by the tax effect of the gain on disposition recognized for Australia-West assets. During the three and six-month periods of 2021, our valuation allowance decreased by $ 87 million and $ 151 million, respectively, compared to a decrease of $ 117 million and an increase of $ 229 for the same periods of 2020. The change to our U.S. valuation allowance for all periods relates primarily to the fair value measurement of our CVE common shares and our expectation of the tax impact related to incremental capital gains and losses. 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 and the associated impact on our financial statements is not estimable at this time. Our deferred tax liability increased by approximately $ 1.1 billion as part of the liabilities assumed through our Concho acquisition. Additionally, our reserve for unrecognized tax benefits increased by $ 150 million related to tax credit carryovers acquired from Concho that we do not expect to recognize.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Basis of Presentation (Policy)	6 Months Ended
Basis of Presentation (Policy)	Jun. 30, 2021
Basis of Presentation [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 and 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 2020 Annual Report on Form 10-K.

Sales and Other Operating Revenue (Policy)	6 Months Ended
Sales and Other Operating Revenue (Policy)	Jun. 30, 2021
Sales and Other Operating Revenues [Abstract]
Practical Expedients	Practical Expedients Typically, our commodity sales contracts are less than 12 months in duration; however, in certain specific cases 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 June 30, 2021, the “Accounts and notes receivable” line on our consolidated balance sheet, includes trade receivables of $ 3,504 million compared with $ 1,827 million at December 31, 2020, 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 contractual arrangements where we license proprietary technology to customers related to the optimization process for operating LNG plants. The agreements typically provide for negotiated payments to be made at stated milestones. The payments are not directly related to our performance under the contract and are recorded as deferred revenue to be recognized as revenue when the customer can utilize and benefit from their right to use the license. Payments are received in installments over the construction period.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130561-203045

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130563-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130563-203045

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=84158767&loc=d3e18823-107790

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130564-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

+ Details

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Jun. 30, 2021
Inventories [Abstract]
Schedule of Inventories	Note 2—Inventories Inventories consisted of the following: Millions of Dollars June 30 December 31 2021 2020 Crude oil and natural gas $ 572 461 Materials and supplies 566 541 $ 1,138 1,002

Acquisitions and Dispositions (Tables) - Concho Resources Incorporated [Member]	6 Months Ended
	Jun. 30, 2021
Business Acquisition [Line Items]
Total Consideration	Total Consideration Number of shares of Concho common stock issued and outstanding (in thousands)* 194,243 Number of shares of Concho stock awards outstanding (in thousands)* 1,599 Number of shares exchanged 195,842 Exchange ratio 1.46 Additional shares of ConocoPhillips common stock issued as consideration (in thousands) 285,929 Average price per share of ConocoPhillips common stock** $ 45.9025 Total Consideration (Millions) $ 13,125 Outstanding as of January 15, 2021. *Based on the ConocoPhillips average stock price on January 15, 2021.
Net Assets Acquired	Assets Acquired Millions of Dollars Cash and cash equivalents $ 382 Accounts receivable, net 742 Inventories 45 Prepaid expenses and other current assets 37 Investments and long-term receivables 333 Net properties, plants and equipment 18,971 Other assets 62 Total assets acquired $ 20,572 Liabilities Assumed Accounts payable $ 638 Accrued income and other taxes 49 Employee benefit obligations 4 Other accruals 510 Long-term debt 4,696 Asset retirement obligations and accrued environmental costs 310 Deferred income taxes 1,123 Other liabilities and deferred credits 117 Total liabilities assumed $ 7,447 Net assets acquired $ 13,125
Non-Recurring Restructuring and Transition-Related Costs	Millions of Dollars Transaction Cost Restructuring Cost Total Cost Production and operating expenses $ 70 70 Selling, general and administration expenses 135 52 187 Exploration expenses 18 4 22 Taxes other than income taxes 4 2 6 Other expenses - 29 29 $ 157 157 314
Supplemental Pro Forma (unaudited)	Millions of Dollars Supplemental Pro Forma (unaudited) Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 Total revenues and other income $ 4,065 11,365 Net loss (229) (619) Net loss attributable to ConocoPhillips (247) (665) $ per share Earnings per share: Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 Basic net loss $ (0.18) (0.49) Diluted net loss (0.18) (0.49)

Investment in Cenovus Energy (Tables)	6 Months Ended
Investment in Cenovus Energy (Tables)	Jun. 30, 2021
Cenovus Energy Inc [Member]
Schedule Of Available For Sale Securities [Line Items]
Gains and Losses Recorded in Other Income (Loss)	Gains and losses recorded in other income (loss) for our investment in CVE were: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2021 2020 2021 2020 Total net gain (loss) on equity securities $ 418 551 726 (1,140) Less: Net gain on equity securities sold during the period (31) - (60) - Unrealized gain (loss) on equity securities still held at the reporting date $ 387 551 666 (1,140)

Changes in Equity (Tables)	6 Months Ended
Changes in Equity (Tables)	Jun. 30, 2021
Changes in Equity [Abstract]
Schedule of Changes in Equity	Note 7—Changes in Equity Millions of Dollars Attributable to ConocoPhillips Common Stock Par Value Capital in Excess of Par Treasury Stock Accum. Other Comprehensive Income (Loss) Retained Earnings Non- Controlling Interests Total For the three months ended June 30, 2021 Balances at March 31, 2021 $ 21 60,278 (47,672) (5,080) 35,608 43,155 Net income 2,091 2,091 Other comprehensive income 160 160 Dividends paid ($ 0.43 per common share) (583) (583) Repurchase of company common stock (606) (606) Distributed under benefit plans 59 59 Balances at June 30, 2021 $ 21 60,337 (48,278) (4,920) 37,116 44,276 For the six months ended June 30, 2021 Balances at December 31, 2020 $ 18 47,133 (47,297) (5,218) 35,213 29,849 Net income 3,073 3,073 Other comprehensive income 298 298 Dividends paid ($ 0.86 per common share) (1,171) (1,171) Acquisition of Concho 3 13,122 13,125 Repurchase of company common stock (981) (981) Distributed under benefit plans 82 82 Other 1 1 Balances at June 30, 2021 $ 21 60,337 (48,278) (4,920) 37,116 44,276 Millions of Dollars Attributable to ConocoPhillips Common Stock Par Value Capital in Excess of Par Treasury Stock Accum. Other Comprehensive Income (Loss) Retained Earnings Non- Controlling Interests Total For the three months ended June 30, 2020 Balances at March 31, 2020 $ 18 47,027 (47,130) (6,145) 37,545 72 31,387 Net income 260 18 278 Other comprehensive income 320 320 Dividends paid ($ 0.42 per common share) (455) (455) Distributions to noncontrolling interests and other (6) (6) Dispositions (84) (84) Distributed under benefit plans 52 52 Other 1 1 Balances at June 30, 2020 $ 18 47,079 (47,130) (5,825) 37,351 - 31,493 For the six months ended June 30, 2020 Balances at December 31, 2019 $ 18 46,983 (46,405) (5,357) 39,742 69 35,050 Net income (1,479) 46 (1,433) Other comprehensive loss (468) (468) Dividends paid ($ 0.84 per common share) (913) (913) Repurchase of company common stock (726) (726) Distributions to noncontrolling interests and other (32) (32) Dispositions (84) (84) Distributed under benefit plans 96 96 Other 1 1 1 3 Balances at June 30, 2020 $ 18 47,079 (47,130) (5,825) 37,351 - 31,493

Derivative and Financial Instruments (Tables)	6 Months Ended
Derivative and Financial Instruments (Tables)	Jun. 30, 2021
Derivative and Financial Instruments [Abstract]
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 June 30 December 31 2021 2020 Assets Prepaid expenses and other current assets $ 685 229 Other assets 89 26 Liabilities Other accruals 688 202 Other liabilities and deferred credits 64 18
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 Six Months Ended June 30 June 30 2021 2020 2021 2020 Sales and other operating revenues $ (100) (50) (379) (3) Other income (loss) (1) 3 16 5 Purchased commodities 132 24 145 (2)
Net Exposures from Outstanding Commodity Derivative Contracts	The table below summarizes our material net exposures resulting from outstanding commodity derivative contracts: Open Position Long/(Short) June 30 December 31 2021 2020 Commodity Natural gas and power (billions of cubic feet equivalent) Fixed price 18 (20) Basis (6) (10)
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 June 30, 2021 and December 31, 2020: Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments Investments and Long- Term Receivables June 30 December 31 June 30 December 31 June 30 December 31 2021 2020 2021 2020 2021 2020 Cash $ 899 597 Demand Deposits 1,541 1,133 Time Deposits 1 to 90 days 4,104 1,225 1,537 2,859 91 to 180 days 270 448 Within one year 209 13 One year through five years 2 1 U.S. Government Obligations 1 to 90 days 16 23 - - $ 6,560 2,978 2,016 3,320 2 1
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 June 30, 2021 and December 31, 2020: Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments Investments and Long-Term Receivables June 30 December 31 June 30 December 31 June 30 December 31 2021 2020 2021 2020 2021 2020 Major Security Type Corporate Bonds $ - - 105 130 182 143 Commercial Paper 48 13 116 155 U.S. Government Obligations - - 2 4 8 13 U.S. Government Agency Obligations 10 17 Foreign Government Obligations 10 - - 2 Asset-backed Securities 2 - 52 41 $ 48 13 235 289 252 216 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 eight years.
Amortized Cost Basis and Fair Value of Investments in Debt Securities Classified as Available for Sale	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 June 30 December 31 June 30 December 31 2021 2020 2021 2020 Major Security Type Corporate bonds $ 286 271 287 273 Commercial paper 164 168 164 168 U.S. government obligations 10 17 10 17 U.S. government agency obligations 10 17 10 17 Foreign government obligations 10 2 10 2 Asset-backed securities 54 41 54 41 $ 534 516 535 518

Fair Value Measurement (Tables)	6 Months Ended
Fair Value Measurement (Tables)	Jun. 30, 2021
Fair Value Measurement [Abstract]
Fair Value Hierarchy for Gross Financial Assets and Liabilities	Millions of Dollars June 30, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Investment in CVE shares $ 1,802 - - 1,802 1,256 - - 1,256 Investments in debt securities 10 525 - 535 17 501 - 518 Commodity derivatives 402 349 23 774 142 101 12 255 Total assets $ 2,214 874 23 3,111 1,415 602 12 2,029 Liabilities Commodity derivatives $ 399 287 66 752 120 91 9 220 Total liabilities $ 399 287 66 752 120 91 9 220
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 Not Gross Net Amounts Subject to Gross Amounts Amounts Cash Net Recognized Right of Setoff Amounts Offset Presented Collateral Amounts June 30, 2021 Assets $ 774 28 746 464 282 - 282 Liabilities 752 26 726 464 262 17 245 December 31, 2020 Assets $ 255 2 253 157 96 10 86 Liabilities 220 1 219 157 62 4 58 At June 30, 2021 and December 31, 2020, we did not present any amounts gross on our consolidated balance sheet where we had the right of setoff.
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 June 30 December 31 June 30 December 31 2021 2020 2021 2020 Financial assets Investment in CVE shares $ 1,802 1,256 1,802 1,256 Commodity derivatives 310 88 310 88 Investments in debt securities 535 518 535 518 Loans and advances—related parties 168 220 168 220 Financial liabilities Total debt, excluding finance leases 19,135 14,478 23,376 19,106 Commodity derivatives 271 59 271 59

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Jun. 30, 2021
Accumulated Other Comprehensive Loss [Abstract]
Components of Accumulated Other Comprehensive Loss in the Equity Section of the Balance Sheet	Note 12—Accumulated Other Comprehensive Loss Accumulated other comprehensive loss in the equity section of our consolidated balance sheet included: Millions of Dollars Defined Benefit Plans Net Unrealized Gain (Loss) on Securities Foreign Currency Translation Accumulated Other Comprehensive Loss December 31, 2020 $ (425) 2 (4,795) (5,218) Other comprehensive income (loss) 134 (1) 165 298 June 30, 2021 $ (291) 1 (4,630) (4,920)
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 Six Months Ended June 30 June 30 2021 2020 2021 2020 Defined benefit plans $ 42 8 54 16 The above amounts are included in the computation of net periodic benefit cost and are presented net of tax expense of $ 11 million and $ 2 million for the three-month periods ended June 30, 2021 and June 30, 2020, respectively, and $ 15 million and $ 4 million for the six-month periods ended June 30, 2021 and June 30, 2020, respectively

Cash Flow Information (Tables)	6 Months Ended
Cash Flow Information (Tables)	Jun. 30, 2021
Cash Flow Information [Abstract]
Cash Flow Information	Note 13—Cash Flow Information Millions of Dollars Six Months Ended June 30 2021 2020 Cash Payments Interest $ 464 397 Income taxes 107 761 Net Sales (Purchases) of Investments Short-term investments purchased $ (5,439) (7,021) Short-term investments sold 6,842 6,147 Long-term investments purchased (149) (208) Long-term investments sold 48 52 $ 1,302 (1,030)

Employee Benefit Plans (Tables)	6 Months Ended
Employee Benefit Plans (Tables)	Jun. 30, 2021
Employee Benefit Plans [Abstract]
Pension and Postretirement Plans	Pension and Postretirement Plans Millions of Dollars Pension Benefits Other Benefits 2021 2020 2021 2020 U.S. Int'l. U.S. Int'l. Components of Net Periodic Benefit Cost Three Months Ended June 30 Service cost $ 18 16 21 13 1 - Interest cost 15 20 17 20 1 1 Expected return on plan assets (20) (30) (21) (34) - - Amortization of prior service credit - - - - (10) (8) Recognized net actuarial loss 12 8 13 5 1 - Settlements 42 - - - - - Net periodic benefit cost $ 67 14 30 4 (7) (7) Six Months Ended June 30 Service cost $ 39 31 42 27 1 1 Interest cost 28 40 34 42 2 3 Expected return on plan assets (44) (60) (42) (71) - - Amortization of prior service credit - - - - (19) (16) Recognized net actuarial loss 27 16 25 11 1 - Settlements 44 - 1 (1) - - Curtailments 12 - - - - - Special Termination Benefits 9 - - - - - Net periodic benefit cost $ 115 27 60 8 (15) (12)
Discount Rates	The relevant discount rates are summarized in the following table: June 30 March 31 December 31 Discount rate 2021 2021 2020 U.S. qualified pension plan % 2.65 3.00 2.40 U.S. nonqualified pension plan 2.15 2.40 1.85 U.S. postretirement benefit plans * 2.80 2.20 * Not remeasured at June 30, 2021.
Severance Accrual	Millions of Dollars Balance at December 31, 2020 $ 24 Accruals 102 Benefit payments (91) Balance at June 30, 2021 $ 35

Related Party Transactions (Tables)	6 Months Ended
Related Party Transactions (Tables)	Jun. 30, 2021
Related Party Transactions [Abstract]
Significant Transactions with Related Parties	Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2021 2020 2021 2020 Operating revenues and other income $ 24 21 40 38 Purchases 3 - 3 - Operating expenses and selling, general and administrative expenses 63 12 89 27 Net interest (income) expense* - (2) (1) (4) *We paid interest to, or received interest from, various affiliates.

Sales and Other Operating Revenue (Tables)	6 Months Ended
Sales and Other Operating Revenue (Tables)	Jun. 30, 2021
Sales and Other Operating Revenues [Abstract]
Disaggregation of Revenue	Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2021 2020 2021 2020 Revenue from contracts with customers $ 7,753 1,919 14,914 6,830 Revenue from contracts outside the scope of ASC Topic 606 Physical contracts meeting the definition of a derivative 1,754 856 4,728 2,152 Financial derivative contracts 49 (26) (260) (75) Consolidated sales and other operating revenues $ 9,556 2,749 19,382 8,907 Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2021 2020 2021 2020 Revenue from Outside the Scope of ASC Topic 606 by Segment Lower 48 $ 1,345 698 3,811 1,674 Canada 207 121 510 300 Europe, Middle East and North Africa 202 37 407 178 Physical contracts meeting the definition of a derivative $ 1,754 856 4,728 2,152 Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2021 2020 2021 2020 Revenue from Outside the Scope of ASC Topic 606 by Product Crude oil $ 178 26 302 118 Natural gas 1,504 763 4,231 1,853 Other 72 67 195 181 Physical contracts meeting the definition of a derivative $ 1,754 856 4,728 2,152
Contract with Customer, Asset and Liability	Millions of Dollars Contract Liabilities At December 31, 2020 $ 97 Contractual payments received 7 Revenue recognized (62) At June 30, 2021 $ 42 Amounts Recognized in the Consolidated Balance Sheet at June 30, 2021 Current liabilities $ 42

Segment Disclosures and Related Information (Tables)	6 Months Ended
Segment Disclosures and Related Information (Tables)	Jun. 30, 2021
Segment Disclosures and Related Information [Abstract]
Analysis of Results by Operating Segment	Analysis of Results by Operating Segment Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2021 2020 2021 2020 Sales and Other Operating Revenues Alaska $ 1,418 419 2,551 1,532 Intersegment eliminations - 19 - 19 Alaska 1,418 438 2,551 1,551 Lower 48 5,889 1,433 12,402 4,536 Intersegment eliminations (2) (28) (4) (38) Lower 48 5,887 1,405 12,398 4,498 Canada 802 165 1,669 678 Intersegment eliminations (352) - (657) (180) Canada 450 165 1,012 498 Europe, Middle East and North Africa 1,165 288 2,143 888 Asia Pacific 630 450 1,207 1,453 Other International 2 1 3 4 Corporate and Other 4 2 68 15 Consolidated sales and other operating revenues $ 9,556 2,749 19,382 8,907 Sales and Other Operating Revenues by Geographic Location (1) United States $ 7,308 1,844 15,015 6,061 Australia - 168 - 605 Canada 450 165 1,012 498 China 171 67 326 213 Indonesia 207 132 403 336 Libya 290 - 520 44 Malaysia 252 83 478 299 Norway 618 242 1,030 688 United Kingdom 257 46 593 156 Other foreign countries 3 2 5 7 Worldwide consolidated $ 9,556 2,749 19,382 8,907 Sales and Other Operating Revenues by Product Crude oil $ 5,797 1,216 10,292 4,660 Natural gas 2,812 1,190 7,323 2,845 Natural gas liquids 325 84 562 235 Other (2) 622 259 1,205 1,167 Consolidated sales and other operating revenues by product $ 9,556 2,749 19,382 8,907 (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 Six Months Ended June 30 June 30 2021 2020 2021 2020 Net Income (Loss) Attributable to ConocoPhillips Alaska $ 371 (141) 530 (60) Lower 48 1,175 (365) 1,643 (802) Canada 102 (86) 112 (195) Europe, Middle East and North Africa 207 25 360 226 Asia Pacific 175 648 492 920 Other International (5) (6) (9) 22 Corporate and Other 66 185 (55) (1,590) Consolidated net income (loss) attributable to ConocoPhillips $ 2,091 260 3,073 (1,479) Millions of Dollars June 30 December 31 2021 2020 Total Assets Alaska $ 14,636 14,623 Lower 48 32,309 11,932 Canada 6,991 6,863 Europe, Middle East and North Africa 8,616 8,756 Asia Pacific 10,721 11,231 Other International 239 226 Corporate and Other 11,891 8,987 Consolidated total assets $ 85,403 62,618

Consolidated Statement of Cash Flows - Restricted Cash (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Prepaid Expenses and Other Current Assets [Member]
Restricted Cash	$ 95	$ 94
Other Assets [Member]
Restricted Cash	$ 253	$ 230

Inventories - Schedule of Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Inventories [Abstract]
Crude oil and natural gas	$ 572	$ 461
Materials and supplies	566	541
Total Inventories	$ 1,138	$ 1,002

Inventories Textual (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Inventories [Abstract]
LIFO Inventory Amount	$ 348	$ 282

Acquisitions and Dispositions - Acquisition of Concho Resources Inc. (Concho) - Textual (Details) $ in Millions			3 Months Ended			6 Months Ended
	Feb. 08, 2021 USD ($)	Jan. 15, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)
Business Acquisition [Line Items]
Income tax provision			$ 989		$ (257)		$ 1,721	$ (109)
Sales and other operating revenues [Member] \| Commodity Contract [Member]
Business Acquisition [Line Items]
Loss from commodity derivatives, before tax			100		50		379	3
Other Income (Loss) [Member] \| Commodity Contract [Member]
Business Acquisition [Line Items]
Loss from commodity derivatives, before tax			1		(3)		(16)	(5)
Purchased commodities [Member] \| Commodity Contract [Member]
Business Acquisition [Line Items]
Loss from commodity derivatives, before tax			(132)		(24)		$ (145)	2
Concho Resources Incorporated [Member]
Business Acquisition [Line Items]
Name of acquired entity							Concho Resources Inc.
Date of acquisition agreement							Jan. 15, 2021
Exchange ratio		1.46
Total Consideration		$ 13,125
Capitalized costs, proved properties		11,800
Capitalized costs, unproved properties		$ 6,900
Transaction related cost expensed				$ 157			$ 157
Restructuring Cost			$ 23				157
Income tax provision	$ 75						$ 75
Total revenues and other income					4,065	$ 2,637		11,365
Net loss					$ 229	(828)		619
Concho Resources Incorporated [Member] \| Concho Resources Inc. [Member]
Business Acquisition [Line Items]
Impairment of Oil and Gas Properties								10,500
Goodwill, impairment loss								$ 1,900
Concho Resources Incorporated [Member] \| Commodity Contract [Member]
Business Acquisition [Line Items]
Loss from commodity derivatives, before tax				305		233
Concho Resources Incorporated [Member] \| Sales and other operating revenues [Member] \| Commodity Contract [Member]
Business Acquisition [Line Items]
Loss from commodity derivatives, before tax				173		$ 305
Concho Resources Incorporated [Member] \| Sales and other operating revenues [Member] \| Accelerated contracts [Member]
Business Acquisition [Line Items]
Loss from commodity derivatives, before tax				$ 132

Acquisitions and Dispositions - Total Consideration (Details) $ / shares in Units, $ in Millions	Jan. 15, 2021 USD ($) $ / shares shares	Jun. 30, 2021 shares	Dec. 31, 2020 shares
Total Consideration
Number of shares of common stock issued		2,087,542,804	1,798,844,267
Concho Resources Incorporated [Member]
Total Consideration
Exchange ratio	1.46
Total Consideration \| $	$ 13,125
Concho Resources Incorporated [Member] \| Common Stock [Member]
Total Consideration
Additional shares of ConocoPhillips common stock issued as consideration	285,929,000
Concho Resources Incorporated [Member] \| Arithmetic Average [Member]
Total Consideration
Average price per share of ConocoPhillips common stock \| $ / shares	$ 45.9025
Concho Resources Incorporated [Member] \| Concho Resources Inc. [Member]
Total Consideration
Number of shares of common stock issued	194,243,000
Number of shares of common stock outstanding	194,243,000
Number of shares of stock awards outstanding	1,599,000
Number of shares exchanged	195,842,000

Acquisitions and Dispositions - Net Assets Acquired (Details) - USD ($) $ in Millions	Jun. 30, 2021	Jan. 15, 2021	Dec. 31, 2020
Assets Acquired
Investments and long-term receivables	$ 8,013		$ 8,017
Concho Resources Incorporated [Member]
Assets Acquired
Cash and cash equivalents		$ 382
Accounts receivable, net		742
Inventories		45
Prepaid expenses and other current assets		37
Investments and long-term receivables		333
Net properties, plants and equipment		18,971
Other assets		62
Total assets acquired		20,572
Liabilities Assumed
Accounts Payable		638
Accrued income and other taxes		49
Employee benefit obligations		4
Other accruals		510
Long-term debt		4,696
Asset retirement obligations and accrued environmental costs		310
Deferred income taxes		1,123
Other liabilities and deferred credits		117
Total Liabilities assumed		7,447
Net assets acquired		$ 13,125

Acquisitions and Dispositions - Non-Recurring Restructuring and Transition-Related Costs (Details) - Concho Resources Incorporated [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021
Business Acquisition [Line Items]
Transaction related cost expensed		$ 157	$ 157
Restructuring Cost	$ 23		157
Total Costs			314
Production and operating expenses
Business Acquisition [Line Items]
Restructuring Cost			70
Total Costs			70
Selling, general and administrative expenses
Business Acquisition [Line Items]
Transaction related cost expensed			135
Restructuring Cost			52
Total Costs			187
Exploration Expenses
Business Acquisition [Line Items]
Transaction related cost expensed			18
Restructuring Cost			4
Total Costs			22
Taxes other than income taxes
Business Acquisition [Line Items]
Transaction related cost expensed			4
Restructuring Cost			2
Total Costs			6
Other Expenses
Business Acquisition [Line Items]
Transaction related cost expensed			0
Restructuring Cost			29
Total Costs			$ 29

Acquisitions and Dispositions - Supplemental Pro Forma (unaudited) (Details) - Concho Resources Incorporated [Member] - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Business Acquisition [Line Items]
Total revenues and other income	$ 4,065	$ 2,637	$ 11,365
Net loss	(229)	$ 828	(619)
Net loss attributable to ConocoPhillips	$ (247)		$ (665)
Basic net loss	$ (0.18)		$ (0.49)
Diluted net loss	$ (0.18)		$ (0.49)

Acquisitions and Dispositions - Assets Sold and Planned Dispositions - Textual (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended	12 Months Ended
	Jul. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2017
Lower 48 Segment \| Subsequent Event [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from asset dispositions	$ 200,000,000
Barossa project [Member] \| Asia Pacific [Member] \| Operating Segments [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Before-tax gain (loss) on disposition			$ 200,000,000
Barossa project [Member] \| Asia Pacific [Member] \| Operating Segments [Member] \| Scenario Plan [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from asset dispositions					$ 200,000,000
Foster Creek Christina Lake (FCCL) and western Canada gas properties [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Before-tax gain (loss) on disposition		$ 68,000,000		$ 94,000,000	$ 0
Basis for Amount				Consideration for the transaction included a five-year, uncapped contingent payment. The contingent payment, calculated on a quarterly basis, is $6 million CAD for every $1 CAD by which the WCS quarterly average crude price exceeds $52 CAD per barrel
Foster Creek Christina Lake (FCCL) [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Equity interest of ConocoPhillips						50.00%

Investments, Loans and Long-Term Receivables - Textual (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2012
Equity method investments
Loan balance with affiliated company	$ 168	$ 220
APLNG [Member]
Equity method investments
Project finance facility, maximum borrowing capacity			$ 8,500
Line Of Credit Facility Value Outstanding	6,000
Book value of equity method investment	6,400
QG3 [Member]
Equity method investments
Loan balance with affiliated company	$ 168

Investment in Cenovus Energy - Textual (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Debt and Equity Securities, FV-NI [Line Items]
Investment in Cenovus Energy	$ 1,802		$ 1,802		$ 1,256
Cenovus Energy Inc [Member]
Debt and Equity Securities, FV-NI [Line Items]
(Gain) loss on investment in Cenovus Energy	(387)	$ (551)	(666)	$ 1,140
Common Stock [Member] \| Cenovus Energy Inc [Member]
Debt and Equity Securities, FV-NI [Line Items]
Investment in equity security, fair value	$ 1,800		$ 1,800
Shares exchanged for assets held for sale	188		188		208
Investment owned, common stock, percent of issued and outstanding	9.30%		9.30%
Cenovus Energy common share price	$ 9.58		$ 9.58
Equity securities, shares sold	20
Proceeds recognized from sale of equity securities	$ 180
Proceeds received from sale of equity securities	$ 166

Investment in Cenovus Energy - Gains and Losses Recorded in Other Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Debt and Equity Securities, FV-NI [Line Items]
Total net gain (loss) on equity securities			$ 726.0	$ (1,140.0)
Cenovus Energy Inc [Member]
Debt and Equity Securities, FV-NI [Line Items]
Total net gain (loss) on equity securities	$ 418.0	$ 551.0	726.0	(1,140.0)
Less: Net gain on equity securities sold during the period	31.0	0.0	60.0	0.0
Unrealized gain (loss) on equity securities still held at the reporting date	$ 387.0	$ 551.0	$ 666.0	$ (1,140.0)

Debt - Textual (Details) - USD ($)		6 Months Ended
Debt - Textual (Details) - USD ($)	Jan. 15, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Debt [Abstract]
Debt balance		$ 20,000,000,000.0		$ 15,400,000,000
Short Term Debt [Line Items]
Commercial Paper Program, Amount Outstanding		$ 222,000,000
Concho Resources Incorporated [Member]
Debt Instrument [Line Items]
Adjustment to fair value of the senior notes	$ 800,000,000
Long-term debt	4,696,000,000
Business Combination, Notes Offered In Exchange	$ 3,900,000,000		$ 3,900,000,000
Business Combination, Percent Of Notes Offered Tendered And Exchanged For New Debt			98.00%
Business Combination, Tendered And Exchanged Notes For New Debt			$ 3,800,000,000
Debt Instrument Face Amount			$ 67,000,000
Moody's, A3 Rating [Member]
Debt Instrument [Line Items]
Debt Instrument, Credit Rating		In May 2021, Moody’s affirmed its rating of our senior long-term debt of “A3” with a “stable” outlook. Moody’s rates our short-term debt as “Prime-2.”
Fitch, A Rating [Member]
Debt Instrument [Line Items]
Debt Instrument, Credit Rating		In January 2021, Fitch affirmed its rating of our long-term debt as “A” with a “stable” outlook and affirmed its rating of our short-term debt as “F1+.”
Standard & Poor's, A Rating [Member]
Debt Instrument [Line Items]
Debt Instrument, Credit Rating		In January 2021, Fitch affirmed its rating of our long-term debt as “A” with a “stable” outlook and affirmed its rating of our short-term debt as “F1+.” On January 25, 2021, S&P revised its industry risk assessment of the E&P industry to “Moderately High” from “Intermediate” based on a view of increasing risks from the energy transition, price volatility, and weaker profitability. On February 11, 2021, S&P downgraded its rating of our long-term debt from “A” to “A-” with a “stable” outlook and downgraded its rating of our short-term debt from “A-1” to “A-2.” In May 2021, Moody’s affirmed its rating of our senior long-term debt of “A3” with a “stable” outlook. Moody’s rates our short-term debt as “Prime-2.” 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 rating 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
Revolving Credit Facility [Member]
Short Term Debt [Line Items]
Maximum borrowing capacity under revolving credit facility		$ 6,000,000,000.0
Line of credit facility, expiration date		May 31, 2023
Remaining borrowing capacity under revolving credit facility		$ 5,700,000,000
Commercial Paper Program, Amount Outstanding		0		0
Minimum limit of debt for cross default provision		200,000,000
Letter of Credit [Member]
Short Term Debt [Line Items]
Commercial Paper Program, Amount Outstanding		0		0
Letter of Credit [Member] \| Maximum [Member]
Short Term Debt [Line Items]
Commercial Paper Program, Capacity		500,000,000
VRDB [Member]
Debt Instrument [Line Items]
Debt Instrument Face Amount		283,000,000
Conoco Phillips Commercial Paper Program [Member] \| Commercial Paper [Member]
Short Term Debt [Line Items]
Maximum borrowing capacity under revolving credit facility		6,000,000,000.0
Commercial Paper Program, Amount Outstanding		$ 300,000,000		$ 300,000,000
Conoco Phillips Commercial Paper Program [Member] \| Commercial Paper [Member] \| Maximum [Member]
Short Term Debt [Line Items]
Maturity period of commercial paper (in days)		maturities of 90 days

Debt - Debt Assumed (Details) - Concho Resources Incorporated [Member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jan. 15, 2021
Debt Instrument [Line Items]
Long-term debt		$ 4,696
3.75% Notes due 2027
Debt Instrument [Line Items]
Stated interest rate		3.75%
Maturity date	2027
Long-term debt		$ 1,000
4.3% Notes due 2028
Debt Instrument [Line Items]
Stated interest rate		4.30%
Maturity date	2028
Long-term debt		$ 1,000
2.4% Notes due 2031
Debt Instrument [Line Items]
Stated interest rate		2.40%
Maturity date	2031
Long-term debt		$ 500
4.875% Notes due 2047
Debt Instrument [Line Items]
Stated interest rate		4.875%
Maturity date	2047
Long-term debt		$ 800
4.85% Notes due 2048
Debt Instrument [Line Items]
Stated interest rate		4.85%
Maturity date	2048
Long-term debt		$ 600

Changes in Equity - Schedule of Changes in Equity (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 43,155	$ 31,387	$ 29,849	$ 35,050
Net income (loss)	2,091	278	3,073	(1,433)
Other Comprehensive Income (Loss)	160	320	298	(468)
Dividends paid	(583)	(455)	(1,171)	(913)
Acquisition of Concho			13,125
Repurchase of company common stock	(606)		(981)	(726)
Distributions to noncontrolling interests and other		(6)		(32)
Disposition		(84)		(84)
Distributed under benefit plans	59	52	82	96
Other		1	1	3
Ending Balance	44,276	31,493	44,276	31,493
Par Value - Common Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	21	18	18	18
Acquisition of Concho			3
Ending Balance	21	18	21	18
Capital in excess of par [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	60,278	47,027	47,133	46,983
Acquisition of Concho			13,122
Distributed under benefit plans	59	52	82	96
Ending Balance	60,337	47,079	60,337	47,079
Treasury Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(47,672)	(47,130)	(47,297)	(46,405)
Repurchase of company common stock	(606)		(981)	(726)
Other				1
Ending Balance	(48,278)	(47,130)	(48,278)	(47,130)
Accum Other Comprehensive Income (Loss) [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(5,080)	(6,145)	(5,218)	(5,357)
Other Comprehensive Income (Loss)	160	320	298	(468)
Ending Balance	(4,920)	(5,825)	(4,920)	(5,825)
Retained Earnings [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	35,608	37,545	35,213	39,742
Net income (loss)	2,091	260	3,073	(1,479)
Dividends paid	(583)	(455)	(1,171)	(913)
Other		1	1	1
Ending Balance	$ 37,116	37,351	$ 37,116	37,351
Noncontrolling Interests [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance		72		69
Net income (loss)		18		46
Distributions to noncontrolling interests and other		(6)		(32)
Disposition		(84)		(84)
Other				1
Ending Balance		$ 0		$ 0

Changes in Equity - Parenthetical (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Changes in Equity [Abstract]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.43	$ 0.42	$ 0.86	$ 0.84

Guarantees - Textual (Details) - USD ($) $ in Millions	6 Months Ended
Guarantees - Textual (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Guarantor Obligations [Line Items]
Environmental accruals for known contamination in carrying amount recorded for indemnifications	$ 188	$ 180
Australia Pacific APLNG [Member]
Guarantor Obligations [Line Items]
Ownership percentage in equity investment	37.50%
Finance Reserve Guarantee [Member] \| Australia Pacific APLNG [Member]
Guarantor Obligations [Line Items]
Terms of Guarantees Outstanding	10 years
Maximum potential amount of future payments	$ 170
Guarantor Obligations, Current Carrying Value	$ 14
Guarantee existing sales agreement of natural gas delivery \| Australia Pacific APLNG [Member] \| Maximum [Member]
Guarantor Obligations [Line Items]
Terms of Guarantees Outstanding	1 to 21 years
Max potential future payments-reckless breach [Member] \| Australia Pacific APLNG [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	$ 1,300
Max potential future payments-prorata share [Member] \| Australia Pacific APLNG [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	710
Continued development [Member] \| Australia Pacific APLNG [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	180
Guarantor Obligations, Current Carrying Value	$ 11
Continued development [Member] \| Australia Pacific APLNG [Member] \| Maximum [Member]
Guarantor Obligations [Line Items]
Terms of Guarantees Outstanding	16 to 24 years or the life of the venture
Other Guarantees [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	$ 740
Guarantor Obligations, Current Carrying Value	$ 11
Other Guarantees [Member] \| Maximum [Member]
Guarantor Obligations [Line Items]
Terms of Guarantees Outstanding	two to five years
Indemnifications [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Current Carrying Value	$ 50

Contingencies and Commitments - Textual (Details) $ in Millions			1 Months Ended			6 Months Ended	12 Months Ended	35 Months Ended
	May 10, 2021 USD ($)	Aug. 02, 2019 USD ($)	Mar. 31, 2019 USD ($)	Aug. 31, 2018 USD ($)	Apr. 30, 2018 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2017 Lawsuits	Jun. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)	Aug. 29, 2019 USD ($)
Loss Contingencies [Line Items]
Total environmental accrual included in balance sheet						$ 188		$ 188	$ 180
Letters of Credit Outstanding, Amount						$ 222		$ 222
Performance Guarantee [Member]
Loss Contingencies [Line Items]
Loss Contingency Damages Sought Value	$ 200
Several Louisiana parishes and the State of Louisiana against oil and gas companies [Member]
Loss Contingencies [Line Items]
Loss Contingency, New Claims Filed, Number \| Lawsuits							43
Several Louisiana parishes and the State of Louisiana against oil and gas companies [Member] \| ConocoPhillips Entities [Member]
Loss Contingencies [Line Items]
Loss Contingency, New Claims Filed, Number \| Lawsuits							22
Outer Continental Shelf Lease [Member] \| Phillips Petroleum Company [Member]
Loss Contingencies [Line Items]
Ownership percentage in equity investment						25.00%		25.00%
Sale of interest, duration						30 years
Venezuela \| ConocoPhillips Versus Petroleos de Venezuela ICISD [Member]
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 [Member]
Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded from Other Party		$ 33		$ 500	$ 2,000
Loss Contingency, Settlement Agreement, Terms						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.
Cash Proceeds from Legal Settlements								$ 754
US and Canada [Member] \| Cleanup Remediation Activities [Member]
Loss Contingencies [Line Items]
Loss Contingency, Settlement Agreement, Terms						P30Y

Derivative and Financial Instruments - Commodity Balance Sheet (Details) - Commodity Contract [Member] - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Prepaid expenses and other current assets [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative assets	$ 685	$ 229
Other assets [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative assets	89	26
Other accruals [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative liabilities	688	202
Other liabilities and deferred credits [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative liabilities	$ 64	$ 18

Derivative and Financial Instruments - Commodity Gain (Loss) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Jan. 15, 2021
Commodity Contract [Member] \| Concho Resources Incorporated [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives		$ (305)		$ (233)
Derivative, Fair Value, Net							$ (456)
Increase (Decrease) in Commodity Contract Assets and Liabilities	$ 69	692
Sales and other operating revenues [Member] \| Commodity Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	(100)		$ (50)		$ (379)	$ (3)
Sales and other operating revenues [Member] \| Commodity Contract [Member] \| Concho Resources Incorporated [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives		(173)		$ (305)
Sales and other operating revenues [Member] \| Accelerated contracts [Member] \| Concho Resources Incorporated [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives		$ (132)
Other Income (Loss) [Member] \| Commodity Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	(1)		3		16	5
Purchased commodities [Member] \| Commodity Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	$ 132		$ 24		$ 145	$ (2)

Derivative and Financial Instruments - Commodity Notional (Details) - Commodity Contract [Member] - Bcf	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Natural gas and power, Fixed price [Member] \| Long [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Commodity derivatives - volumetric material net exposures	(18)
Natural gas and power, Fixed price [Member] \| Short [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Commodity derivatives - volumetric material net exposures		(20)
Natural gas and power, Basis [Member] \| Short [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Commodity derivatives - volumetric material net exposures	(6)	(10)

Derivative and Financial Instruments - Financial Instruments at Cost Plus Accrued Interest (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Schedule of Held-to-maturity Securities [Line Items]
Cash and Cash Equivalents, carried at cost plus accrued interest	$ 6,560	$ 2,978
Short-term investments, carried at cost plus accrued interest	2,016	3,320
Investments and long-term receivables carried at cost plus accrued interest	2	1
Cash [Member]
Schedule of Held-to-maturity Securities [Line Items]
Cash and Cash Equivalents, carried at cost plus accrued interest	899	597
Demand Deposits [Member]
Schedule of Held-to-maturity Securities [Line Items]
Cash and Cash Equivalents, carried at cost plus accrued interest	1,541	1,133
Time Deposits [Member] \| 1 to 90 days [Member]
Schedule of Held-to-maturity Securities [Line Items]
Cash and Cash Equivalents, carried at cost plus accrued interest	4,104	1,225
Short-term investments, carried at cost plus accrued interest	1,537	2,859
Time Deposits [Member] \| 91 to 180 days [Member]
Schedule of Held-to-maturity Securities [Line Items]
Short-term investments, carried at cost plus accrued interest	270	448
Time Deposits [Member] \| Within one year [Member]
Schedule of Held-to-maturity Securities [Line Items]
Short-term investments, carried at cost plus accrued interest	209	13
Time Deposits [Member] \| One year through eight years [Member]
Schedule of Held-to-maturity Securities [Line Items]
Investments and long-term receivables carried at cost plus accrued interest	2	1
U.S. Government Obligations [Member] \| 1 to 90 days [Member]
Schedule of Held-to-maturity Securities [Line Items]
Cash and Cash Equivalents, carried at cost plus accrued interest	16	23
Short-term investments, carried at cost plus accrued interest	$ 0	$ 0

Derivative and Financial Instruments - Financial Instruments at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Cash and cash equivalents	$ 6,608	$ 2,991
Short-term Investments	2,251	3,609
Investments and long-term receivables	8,013	8,017
Remaining Maturities within One Year [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Schedule Of Available For Sale Securities [Line Items]
Cash and cash equivalents	48	13
Short-term Investments	235	289
Remaining Maturities Greater than One Year Through Eight Years [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Schedule Of Available For Sale Securities [Line Items]
Investments and long-term receivables	252	216
Corporate Bonds [Member] \| Remaining Maturities within One Year [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Schedule Of Available For Sale Securities [Line Items]
Cash and cash equivalents	0	0
Short-term Investments	105	130
Corporate Bonds [Member] \| Remaining Maturities Greater than One Year Through Eight Years [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Schedule Of Available For Sale Securities [Line Items]
Investments and long-term receivables	182	143
Commercial Paper [Member] \| Remaining Maturities within One Year [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Schedule Of Available For Sale Securities [Line Items]
Cash and cash equivalents	48	13
Short-term Investments	116	155
U.S. Government Obligations [Member] \| Remaining Maturities within One Year [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Schedule Of Available For Sale Securities [Line Items]
Cash and cash equivalents	0	0
Short-term Investments	2	4
U.S. Government Obligations [Member] \| Remaining Maturities Greater than One Year Through Eight Years [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Schedule Of Available For Sale Securities [Line Items]
Investments and long-term receivables	8	13
U.S. Government Agency Obligations [Member] \| Remaining Maturities Greater than One Year Through Eight Years [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Schedule Of Available For Sale Securities [Line Items]
Investments and long-term receivables	10	17
Foreign Government Obligations [Member] \| Remaining Maturities within One Year [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Schedule Of Available For Sale Securities [Line Items]
Short-term Investments	10	0
Foreign Government Obligations [Member] \| Remaining Maturities Greater than One Year Through Eight Years [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Schedule Of Available For Sale Securities [Line Items]
Investments and long-term receivables	0	2
Asset-backed Securities [Member] \| Remaining Maturities within One Year [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Schedule Of Available For Sale Securities [Line Items]
Short-term Investments	2	0
Asset-backed Securities [Member] \| Remaining Maturities Greater than One Year Through Eight Years [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Schedule Of Available For Sale Securities [Line Items]
Investments and long-term receivables	$ 52	$ 41

Derivative and Financial Instruments - Cost Basis to Fair Value (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost Basis	$ 534		$ 534		$ 516
Fair Value	535		535		518
Proceeds from sales and redemptions of investments in debt securities classified as available for sale	173	$ 126	320	$ 189
Corporate Bonds [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost Basis	286		286		271
Fair Value	287		287		273
Commercial Paper [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost Basis	164		164		168
Fair Value	164		164		168
U.S. Government Obligations [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost Basis	10		10		17
Fair Value	10		10		17
U.S. Government Agency Obligations [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost Basis	10		10		17
Fair Value	10		10		17
Foreign Government Obligations [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost Basis	10		10		2
Fair Value	10		10		2
Asset-backed Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost Basis	54		54		41
Fair Value	$ 54		$ 54		$ 41

Derivative and Financial Instruments - Credit Risk Textual (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Aggregate fair value of all derivative instruments in a liability position	$ 86,000,000	$ 25,000,000
Collateral was posted for derivative instruments in a liability position	0	$ 0
In event of downgrade below investment grade [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Additional collateral, either in the form of cash or letters of credit	$ 70,000,000
Financial instruments [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Credit Derivative, Recourse Provisions	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.
Trade receivables [Member] \| Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Terms of financial instruments and trade receivables	30 days

Fair Value Measurement - FV Hierarchy (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in CVE shares	$ 1,802	$ 1,256
Investments in debt securities	535	518
Commodity derivative asset, gross	774	255
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in CVE shares	1,802	1,256
Investments in debt securities	535	518
Commodity derivative asset, gross	774	255
Total assets	3,111	2,029
Commodity derivative liability, gross	752	220
Total liabilities	752	220
Fair Value, Measurements, Recurring [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in CVE shares	1,802	1,256
Investments in debt securities	10	17
Commodity derivative asset, gross	402	142
Total assets	2,214	1,415
Commodity derivative liability, gross	399	120
Total liabilities	399	120
Fair Value, Measurements, Recurring [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in CVE shares	0	0
Investments in debt securities	525	501
Commodity derivative asset, gross	349	101
Total assets	874	602
Commodity derivative liability, gross	287	91
Total liabilities	287	91
Fair Value, Measurements, Recurring [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in CVE shares	0	0
Investments in debt securities	0	0
Commodity derivative asset, gross	23	12
Total assets	23	12
Commodity derivative liability, gross	66	9
Total liabilities	$ 66	$ 9

Fair Value Measurement - FV of Commodity Derivatives (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Offsetting Derivative Assets [Abstract]
Assets - gross amounts recognized	$ 774	$ 255
Assets - amounts without right of setoff	28	2
Assets - gross amounts	746	253
Assets - gross amounts offset	464	157
Assets - net amounts presented	282	96
Assets - cash collateral	0	10
Assets - net amounts	282	86
Offsetting Derivative Liabilities [Abstract]
Liabilities - gross amounts recognized	752	220
Liabilities - amounts without right of setoff	26	1
Liabilities - gross amounts recognized	726	219
Liabilities - gross amounts offset	464	157
Liabilities - net amounts presented	262	62
Liabilities - cash collateral	17	4
Liabilities - net amounts	$ 245	$ 58

Fair Value Measurement - FV of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Carrying Amount [Member]
Financial Assets [Abstract]
Investment in CVE shares	$ 1,802	$ 1,256
Investments in debt securities	535	518
Loans and advances - related parties	168	220
Financial Liabilities [Abstract]
Total debt, excluding capital leases	19,135	14,478
Carrying Amount [Member] \| Commodity Contract [Member]
Financial Assets [Abstract]
Commodity derivatives, assets	310	88
Financial Liabilities [Abstract]
Commodity derivatives, liability	271	59
Investment in CVE shares	1,802	1,256
Investments in debt securities	535	518
Loans and advances - related parties	168	220
Total debt, excluding capital leases	23,376	19,106
Commodity Contract [Member]
Financial Assets [Abstract]
Commodity derivatives, assets	310	88
Financial Liabilities [Abstract]
Commodity derivatives, liability	$ 271	$ 59

Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss in the Equity Section of the Balance Sheet (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Loss [Abstract]
Defined Benefit Plans, Beginning Balance			$ (425)
Defined Benefit Plans	$ (64)	$ (7)	(134)	$ (18)
Defined Benefit Plans, Ending Balance	(291)		(291)
Net Unrealized Gain on Securities, Beginning Balance			2
Net Unrealized Loss on Securities			(1)
Net Unrealized Gain on Securities, Ending Balance	1		1
Foreign Currency Translation, Beginning Balance			(4,795)
Foreign Currency Translation	96	309	165	(488)
Foreign Currency Translation, Ending Balance	(4,630)		(4,630)
Accumulated Other Comprehensive Income, Beginning Balance			(5,218)
Other Comprehensive Income (Loss), Net of Tax	160	$ 320	298	$ (468)
Accumulated Other Comprehensive Income, Ending Balance	$ (4,920)		$ (4,920)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121640130&loc=d3e1436-108581

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
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-Section 45
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669625-108580

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

+ Details

Accumulated Other Comprehensive Income (Loss) - Items Reclassified out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Loss [Abstract]
Defined Benefit Plans	$ 42	$ 8	$ 54	$ 16
Tax expense of defined benefit plans	$ 11	$ 2	$ 15	$ 4

Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
Cash Flow Information (Details) - USD ($) $ in Millions	Jun. 30, 2021	Jun. 30, 2020
Cash Payments
Interest	$ 464	$ 397
Income taxes	107	761
Net Sales (Purchases) of Investments
Short-term investments purchased	(5,439)	(7,021)
Short-term investments sold	6,842	6,147
Investments and Long-term receivables purchased	(149)	(208)
Investments and Long-term receivables sold	48	52
Net Sales (Purchases) of Investments	1,302	(1,030)
Cash Acquired from Acquisition	$ 382	$ 0

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Pension Plans Defined Benefit [Member] \| U.S.
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	$ 18		$ 21	$ 39	$ 42
Interest cost	15		17	28	34
Expected return on plan assets	(20)		(21)	(44)	(42)
Amortization of prior service cost (credit)	0		0	0	0
Recognized net actuarial (gain) loss	12		13	27	25
Settlements	42		0	44	1
Curtailments		$ 12		12	0
Special Termination Benefits				9	0
Net periodic benefit cost	67		30	115	60
Pension Plans Defined Benefit [Member] \| Int'l (Pension Benefits) [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	16		13	31	27
Interest cost	20		20	40	42
Expected return on plan assets	(30)		(34)	(60)	(71)
Amortization of prior service cost (credit)	0		0	0	0
Recognized net actuarial (gain) loss	8		5	16	11
Settlements	0		0	0	(1)
Curtailments				0	0
Special Termination Benefits				0	0
Net periodic benefit cost	14		4	27	8
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	1		0	1	1
Interest cost	1		1	2	3
Expected return on plan assets	0		0	0	0
Amortization of prior service cost (credit)	(10)		(8)	(19)	(16)
Recognized net actuarial (gain) loss	1		0	1	0
Settlements	0		0	0	0
Curtailments				0	0
Special Termination Benefits				0	0
Net periodic benefit cost	$ (7)		$ (7)	$ (15)	$ (12)

Employee Benefit Plans - Textual (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Settlements	$ 0		$ 0	$ 0	$ 0
Curtailments				0	0
U.S.
Defined Benefit Plan Disclosure [Line Items]
Expected company contributions	365			365
U.S. \| Pension Plans Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contributions				269
Settlements	42		0	44	1
Increase (decrease) in net pension liability	(30)	$ (76)
Curtailments		$ 12		12	0
Int'l (Pension Benefits) [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected company contributions	97			97
Int'l (Pension Benefits) [Member] \| Pension Plans Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contributions				63
Settlements	$ 0		$ 0	0	(1)
Curtailments				$ 0	$ 0

Employee Benefit Plans - Discount Rate (Details) - U.S.	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount Rate		2.80%	2.20%
Qualified Plan [Member] \| Pension Plans Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount Rate	2.65%	3.00%	2.40%
Nonqualified Plan [Member] \| Pension Plans Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount Rate	2.15%	2.40%	1.85%

Employee Benefit Plans - Severance Accrual (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021 USD ($)
Restructuring Cost and Reserve [Line Items]
Balance at beginning of period	$ 24
Accruals	102
Benefit payments	(91)
Balance at end of period	35
Employee Severance [Member] \| Short term supplemental unemployment benefits [Member]
Restructuring Cost and Reserve [Line Items]
Balance at end of period	$ 20

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Significant transactions with related parties
Operating revenues and other income	$ 24	$ 21	$ 40	$ 38
Purchases	3	0	3	0
Operating expenses and selling, general and administrative expenses	63	12	89	27
Net interest (income) expense	$ 0	$ (2)	$ (1)	$ (4)

Sales and Other Operating Revenue - Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue from contracts with customers	$ 9,556	$ 2,749	$ 19,382	$ 8,907
Customers within the scope of ASC Topic 606 [Member]
Revenue from contracts with customers	7,753	1,919	14,914	6,830
Physical gas contracts [Member]
Revenue from contracts with customers	1,754	856	4,728	2,152
Crude oil product line [Member]
Revenue from contracts with customers	178	26	302	118
Natural Gas Product Line [Member]
Revenue from contracts with customers	1,504	763	4,231	1,853
Other Products [Member]
Revenue from contracts with customers	72	67	195	181
Financial Derivative Contracts [Member]
Revenue from contracts with customers	49	(26)	(260)	(75)
Lower 48 Segment \| Physical gas contracts [Member]
Revenue from contracts with customers	1,345	698	3,811	1,674
Canada Segment [Member] \| Physical gas contracts [Member]
Revenue from contracts with customers	207	121	510	300
Europe, Middle East and North Africa [Member] \| Physical gas contracts [Member]
Revenue from contracts with customers	$ 202	$ 37	$ 407	$ 178

Sales and Other Operating Revenue - Practical Expedients (Details)	6 Months Ended
	Jun. 30, 2021
Revenue, Practical Expedient [Abstract]
Revenue, Practical Expedient, Remaining Performance Obligation, Description	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.
Practical Expedient	true

Sales and Other Operating Revenue - Receivables and Contract Liabilities (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Accounts Receivable, Net	$ 3,504,000,000	$ 3,504,000,000	$ 1,827,000,000
Revenue, Performance Obligation, Description of Timing		We typically receive payment within 30 days or less (depending on the terms of the invoice) once delivery is made.
Contract with Customer, Timing of Satisfaction of Performance Obligation and Payment		Payments are received in installments over the construction period.
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Explanation		For the six-month period of 2021, we recognized revenue of $62 million in the “Sales and other operating revenues” line on our consolidated income statement. No revenue was recognized during the three-month period ended June 30, 2021. We expect to recognize the contract liabilities as of June 30, 2021, as revenue during 2022.
Change in Contract with Customer, Liability [Abstract]
Contract Liabilities, Beginning Balance		$ 97,000,000
Contractual payments received		7,000,000
Revenue recognized	0	(62,000,000)
Contract Liabilities, Ending Balance	42,000,000	42,000,000
Contract with Customer Liability [Abstract]
Current liabilities	$ 42,000,000	$ 42,000,000

Segment Disclosures - Textual (Details)	6 Months Ended
Segment Disclosures - Textual (Details)	Jun. 30, 2021
Segment Disclosures and Related Information [Abstract]
Number of Operating Segments	6

Segment Disclosures and Related Information - Sales (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 9,556	$ 2,749	$ 19,382	$ 8,907
Natural Gas [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	2,812	1,190	7,323	2,845
Natural Gas Liquids Reserves [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	325	84	562	235
Crude Oil [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	5,797	1,216	10,292	4,660
Other Products [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	622	259	1,205	1,167
U.S.
Segment Reporting Information [Line Items]
Sales and other operating revenues	7,308	1,844	15,015	6,061
Australia
Segment Reporting Information [Line Items]
Sales and other operating revenues	0	168	0	605
CA
Segment Reporting Information [Line Items]
Sales and other operating revenues	450	165	1,012	498
China
Segment Reporting Information [Line Items]
Sales and other operating revenues	171	67	326	213
Indonesia
Segment Reporting Information [Line Items]
Sales and other operating revenues	207	132	403	336
Libya
Segment Reporting Information [Line Items]
Sales and other operating revenues	290	0	520	44
Malaysia
Segment Reporting Information [Line Items]
Sales and other operating revenues	252	83	478	299
Norway
Segment Reporting Information [Line Items]
Sales and other operating revenues	618	242	1,030	688
United Kingdom
Segment Reporting Information [Line Items]
Sales and other operating revenues	257	46	593	156
Other foreign Countries
Segment Reporting Information [Line Items]
Sales and other operating revenues	3	2	5	7
Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	9,556	2,749	19,382	8,907
Alaska [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	1,418	419	2,551	1,532
Alaska [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	1,418	438	2,551	1,551
Alaska [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	0	19	0	19
Lower 48 [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	5,889	1,433	12,402	4,536
Lower 48 [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	5,887	1,405	12,398	4,498
Lower 48 [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	(2)	(28)	(4)	(38)
Canada [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	802	165	1,669	678
Canada [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	450	165	1,012	498
Canada [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	(352)	0	(657)	(180)
Europe, Middle East and North Africa [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	1,165	288	2,143	888
Asia Pacific [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	630	450	1,207	1,453
Other International [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	2	1	3	4
Corporate and Other [Member] \| Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 4	$ 2	$ 68	$ 15

Segment Disclosures and Related Information - Net Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	$ 2,091	$ 260	$ 3,073	$ (1,479)
Alaska [Member] \| Operating Segments [Member]
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	371	(141)	530	(60)
Lower 48 [Member] \| Operating Segments [Member]
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	1,175	(365)	1,643	(802)
Canada [Member] \| Operating Segments [Member]
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	102	(86)	112	(195)
Europe, Middle East and North Africa [Member] \| Operating Segments [Member]
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	207	25	360	226
Asia Pacific [Member] \| Operating Segments [Member]
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	175	648	492	920
Other International [Member] \| Operating Segments [Member]
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	(5)	(6)	(9)	22
Corporate and Other [Member] \| Corporate, Non-Segment [Member]
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	$ 66	$ 185	$ (55)	$ (1,590)

Segment Disclosures and Related Information - Assets (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets [Abstract]
Total Assets	$ 85,403	$ 62,618
Alaska [Member] \| Operating Segments [Member]
Assets [Abstract]
Total Assets	14,636	14,623
Lower 48 [Member] \| Operating Segments [Member]
Assets [Abstract]
Total Assets	32,309	11,932
Canada [Member] \| Operating Segments [Member]
Assets [Abstract]
Total Assets	6,991	6,863
Europe, Middle East and North Africa [Member] \| Operating Segments [Member]
Assets [Abstract]
Total Assets	8,616	8,756
Asia Pacific [Member] \| Operating Segments [Member]
Assets [Abstract]
Total Assets	10,721	11,231
Other International [Member] \| Operating Segments [Member]
Assets [Abstract]
Total Assets	239	226
Corporate and Other [Member] \| Corporate, Non-Segment [Member]
Assets [Abstract]
Total Assets	$ 11,891	$ 8,987

Income Taxes (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Feb. 08, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Business Acquisition [Line Items]
Income tax provision		$ (989)	$ 257	$ (1,721)	$ 109
Adjustment to valuation allowances: increase (decrease)		$ (87)	$ (117)	$ (151)	$ 229
Effective tax rate		32.00%		36.00%	7.00%
Concho Resources Incorporated [Member]
Business Acquisition [Line Items]
Unrecognized Tax Benefits, Increase Resulting from Acquisition				$ 150
Reversal of deferred tax assets				(1,100)
Income tax provision	$ (75)			$ (75)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details