Occidental Petroleum 2014 Annual Report Download - page 58

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Derivatives Not Designated as Hedging Instruments
               

Net Outstanding Position
Long / (Short)
Commodity

2013
Oil (million barrels)

(22)
Natural gas (billion cubic feet)

(10)
CO2 (million cubic feet)



                 


                    

Fair Value of Derivatives

(in millions)







Cash-flow hedges (a)
Commodity contracts
Other current assets
 
Accrued liabilities
 
Long-term receivables and other assets, net
Deferred credits and other liabilities
 
 
Derivatives not designated as
hedging instruments (a)
Commodity contracts
Other current assets
 
Accrued liabilities
 
Long-term receivables and other assets, net

Deferred credits and other liabilities



Total gross fair value


Less: counterparty netting and cash
collateral (b) (d)


Total net fair value of derivatives
 
 
56