EX-99.3 4 a5591134ex993.htm EXHIBIT 99.3

Exhibit 99.3


SUMMARY OF NET INCOME (LOSS) BY SEGMENT

	Millions of Dollars
					2006										2007
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD

Income (Loss) from Continuing Operations
U.S. E&P	1,181		1,300		995		872		4,348		916		1,055		1,225		1,052		4,248
International E&P	1,372		2,004		909		1,215		5,500		1,413		(3,459	)	857		1,556		367
Total E&P	2,553		3,304		1,904		2,087		9,848		2,329		(2,404	)	2,082		2,608		4,615

Midstream	110		108		169		89		476		85		102		104		162		453

U.S. R&M	297		1,433		1,444		741		3,915		896		1,879		873		967		4,615
International R&M	93		275		20		178		566		240		479		434		155		1,308
Total R&M	390		1,708		1,464		919		4,481		1,136		2,358		1,307		1,122		5,923

LUKOIL Investment	249		387		487		302		1,425		256		526		387		649		1,818

Chemicals	149		103		142		98		492		82		68		110		99		359

Emerging Businesses	8		(12	)	11		8		15		(1	)	(12	)	3		2		(8	)

Corporate and Other	(168	)	(412	)	(301	)	(306	)	(1,187	)	(341	)	(337	)	(320	)	(271	)	(1,269	)

Consolidated	3,291		5,186		3,876		3,197		15,550		3,546		301		3,673		4,371		11,891

Cumulative Effect of Accounting Changes
U.S. E&P	-		-		-		-		-		-		-		-		-		-
International E&P	-		-		-		-		-		-		-		-		-		-
Total E&P	-		-		-		-		-		-		-		-		-		-

Midstream	-		-		-		-		-		-		-		-		-		-

U.S. R&M	-		-		-		-		-		-		-		-		-		-
International R&M	-		-		-		-		-		-		-		-		-		-
Total R&M	-		-		-		-		-		-		-		-		-		-

LUKOIL Investment	-		-		-		-		-		-		-		-		-		-

Chemicals	-		-		-		-		-		-		-		-		-		-

Emerging Businesses	-		-		-		-		-		-		-		-		-		-

Corporate and Other	-		-		-		-		-		-		-		-		-		-

Consolidated	-		-		-		-		-		-		-		-		-		-

Income (Loss) from Discontinued Operations
Corporate and Other	-		-		-		-		-		-		-		-		-		-


Net Income (Loss)
U.S. E&P	1,181		1,300		995		872		4,348		916		1,055		1,225		1,052		4,248
International E&P	1,372		2,004		909		1,215		5,500		1,413		(3,459	)	857		1,556		367
Total E&P	2,553		3,304		1,904		2,087		9,848		2,329		(2,404	)	2,082		2,608		4,615

Midstream	110		108		169		89		476		85		102		104		162		453

U.S. R&M	297		1,433		1,444		741		3,915		896		1,879		873		967		4,615
International R&M	93		275		20		178		566		240		479		434		155		1,308
Total R&M	390		1,708		1,464		919		4,481		1,136		2,358		1,307		1,122		5,923

LUKOIL Investment	249		387		487		302		1,425		256		526		387		649		1,818

Chemicals	149		103		142		98		492		82		68		110		99		359

Emerging Businesses	8		(12	)	11		8		15		(1	)	(12	)	3		2		(8	)

Corporate and Other	(168	)	(412	)	(301	)	(306	)	(1,187	)	(341	)	(337	)	(320	)	(271	)	(1,269	)

Consolidated	3,291		5,186		3,876		3,197		15,550		3,546		301		3,673		4,371		11,891




																	Page 1 of 12


INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES

	Millions of Dollars
					2006										2007
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD


Income from Continuing Operations Before Income Taxes
U.S. E&P	1,853		2,062		1,598		1,380		6,893		1,425		1,627		1,867		1,560		6,479
International E&P	2,862		3,814		3,460		2,948		13,084		2,894		(1,976	)	2,357		3,464		6,739
Total E&P	4,715		5,876		5,058		4,328		19,977		4,319		(349	)	4,224		5,024		13,218

Midstream	173		187		214		150		724		132		156		157		245		690

U.S. R&M	512		2,260		2,282		1,195		6,249		1,400		2,891		1,369		1,526		7,186
International R&M	112		343		107		222		784		218		633		403		167		1,421
Total R&M	624		2,603		2,389		1,417		7,033		1,618		3,524		1,772		1,693		8,607

LUKOIL Investment	257		398		496		311		1,462		262		542		396		663		1,863

Chemicals	209		134		191		128		662		107		80		140		20		347

Emerging Businesses	9		(20	)	14		11		14		(3	)	(20	)	(17	)	(2	)	(42	)

Corporate and Other	(190	)	(496	)	(425	)	(428	)	(1,539	)	(369	)	(415	)	(308	)	(319	)	(1,411	)

Consolidated	5,797		8,682		7,937		5,917		28,333		6,066		3,518		6,364		7,324		23,272


Income from Continuing Operations Effective Tax Rates
U.S. E&P	36.3	%	37.0	%	37.7	%	36.8	%	36.9	%	35.7	%	35.2	%	34.4	%	32.6	%	34.4	%
International E&P	52.1	%	47.5	%	73.7	%	58.8	%	58.0	%	51.2	%	-		63.6	%	55.1	%	94.6	%
Total E&P	45.9	%	43.8	%	62.4	%	51.8	%	50.7	%	46.1	%	-		50.7	%	48.1	%	65.1	%

Midstream	36.4	%	42.2	%	21.0	%	40.7	%	34.3	%	35.6	%	34.6	%	33.8	%	33.9	%	34.3	%

U.S. R&M	42.0	%	36.6	%	36.7	%	38.0	%	37.3	%	36.0	%	35.0	%	36.2	%	36.6	%	35.8	%
International R&M	17.0	%	19.8	%	81.3	%	19.8	%	27.8	%	-10.1	%	24.3	%	-7.7	%	7.2	%	8.0	%
Total R&M	37.5	%	34.4	%	38.7	%	35.1	%	36.3	%	29.8	%	33.1	%	26.2	%	33.7	%	31.2	%

LUKOIL Investment	3.1	%	2.8	%	1.8	%	2.9	%	2.5	%	2.3	%	3.0	%	2.3	%	2.1	%	2.4	%

Chemicals	28.7	%	23.1	%	25.7	%	23.4	%	25.7	%	23.4	%	15.0	%	21.4	%	-		-3.5	%

Emerging Businesses	11.1	%	40.0	%	21.4	%	27.3	%	-7.1	%	66.7	%	40.0	%	-		-		81.0	%

Corporate and Other	11.6	%	16.9	%	29.2	%	28.5	%	22.9	%	7.6	%	18.8	%	-3.9	%	15.0	%	10.1	%

Consolidated	43.2	%	40.3	%	51.2	%	46.0	%	45.1	%	41.5	%	91.4	%	42.3	%	40.3	%	48.9	%




																	Page 2 of 12


CERTAIN ITEMS INCLUDED IN INCOME FROM CONTINUING OPERATIONS (AFTER-TAX)

	Millions of Dollars
					2006										2007
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
U.S. E&P
Gain (loss) on asset sales	-		15		-		33		48		36		11		-		25		72
FERC Rulings	-		-		-		-		-		-		-		94		-		94
Impairments	-		(26	)	-		(10	)	(36	)	-		-		-		(45	)	(45	)
Insurance premium adjustments	(2	)	-		(5	)	(4	)	(11	)	-		-		-		-		-
Pending claims and settlements	-		-		18		-		18		-		-		-		-		-
Business interruption insurance claims recovery	-		-		15		-		15		-		-		-		13		13
Enacted tax legislation	-		2		-		-		2		-		-		-		-		-
Total	(2	)	(9	)	28		19		36		36		11		94		(7	)	134

International E&P
Gain (loss) on asset sales	-		25		-		-		25		407		(82	)	164		147		636
Insurance premium adjustments	(10	)	-		(10	)	(8	)	(28	)	-		-		-		-		-
International tax law changes	-		401		(270	)	(31	)	100		38		-		-		171		209
Impairment - expropriated assets	-		-		-		-		-		-		(4,512	)	-		-		(4,512	)
Impairments	-		-		(4	)	(104	)	(108	)	(88	)	(33	)	(32	)	(75	)	(228	)
Business interruption insurance claims recovery	-		-		11		3		14		-		-		-		-		-
Pending claims and settlements	-		-		-		25		25		-		-		-		28		28
Total	(10	)	426		(273	)	(115	)	28		357		(4,627	)	132		271		(3,867	)

Total E&P	(12	)	417		(245	)	(96	)	64		393		(4,616	)	226		264		(3,733	)

Midstream
Business interruption insurance claims recovery	-		-		-		5		5		-		-		-		-		-
DCP Midstream's sale of TEPPCO general ptnr	-		-		30		-		30		-		-		-		-		-
Enacted tax legislation	-		(6	)	-		-		(6	)	-		-		-		-		-
Total	-		(6	)	30		5		29		-		-		-		-		-

U.S. R&M
Gain (loss) on asset sales	-		-		-		-		-		-		-		2		14		16
Impairments	-		-		(35	)	(192	)	(227	)	(13	)	-		3		(2	)	(12	)
Enacted tax legislation	-		34		-		-		34		-		-		-		-		-
Insurance premium adjustments	(6	)	-		(7	)	(6	)	(19	)	-		-		-		-		-
Business interruption insurance claims recovery	-		-		111		-		111		-		-		-		10		10
Total	(6	)	34		69		(198	)	(101	)	(13	)	-		5		22		14

International R&M
Gain (loss) on asset sales	-		-		-		-		-		-		163		158		2		323
Impairments	-		-		(214	)	-		(214	)	148		(5	)	(30	)	11		124
Germany tax rate change	-		-		-		-		-		-		-		141		-		141
Insurance premium adjustments	(1	)	-		(1	)	(1	)	(3	)	-		-		-		-		-
Total	(1	)	-		(215	)	(1	)	(217	)	148		158		269		13		588

Total R&M	(7	)	34		(146	)	(199	)	(318	)	135		158		275		35		603

LUKOIL Investment
Ownership interest adjustment	-		-		23		-		23		-		-		-		-		-
Total	-		-		23		-		23		-		-		-		-		-

Chemicals
Business interruption insurance claims recovery	-		-		7		13		20		-		-		-		-		-
Asset retirements recorded by CPChem	-		-		-		(16	)	(16	)	-		(21	)	-		-		(21	)
Tax benefit on capital loss	-		-		-		-		-		-		-		-		65		65
Enacted tax legislation	-		(5	)	-		-		(5	)	-		-		-		-		-
Total	-		(5	)	7		(3	)	(1	)	-		(21	)	-		65		44

Emerging Businesses
Property write-down	-		(14	)	-		-		(14	)	-		-		-		-		-
Total	-		(14	)	-		-		(14	)	-		-		-		-		-

Corporate and Other
Acquisition-related expenses	(5	)	(39	)	(32	)	(22	)	(98	)	(13	)	(16	)	(11	)	(4	)	(44	)
FERC Rulings	-		-		-		-		-		-		-		(14	)	-		(14	)
Premium on early debt retirement	-		-		-		-		-		(14	)	-		-		-		(14	)
Pending claims and settlements	(15	)	-		-		-		(15	)	-		-		-		-		-
Canada tax law change	-		(10	)	-		-		(10	)	-		-		-		15		15
Total	(20	)	(49	)	(32	)	(22	)	(123	)	(27	)	(16	)	(25	)	11		(57	)

Total Company	(39	)	377		(363	)	(315	)	(340	)	501		(4,495	)	475		375		(3,143	)



																	Page 3 of 12


CASH FLOW INFORMATION

	Millions of Dollars
					2006										2007
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD

Cash Flows from Operating Activities
Net income	3,291		5,186		3,876		3,197		15,550		3,546		301		3,673		4,371		11,891
DD&A and impairments	1,180		2,015		2,404		2,368		7,967		2,023		2,114		2,240		2,363		8,740
Impairment - expropriated assets	-		-		-		-		-		-		4,588		-		-		4,588
Dry hole costs and leasehold impairments	38		47		56		210		351		148		133		74		108		463
Accretion on discounted liabilities	60		73		74		74		281		79		81		81		100		341
Deferred income taxes	168		(390	)	495		(10	)	263		77		103		(125	)	(212	)	(157	)
Undistributed equity earnings	(67	)	(687	)	(253	)	62		(945	)	(557	)	(678	)	(237	)	(351	)	(1,823	)
Net gain on asset dispositions	(3	)	(53	)	(8	)	(52	)	(116	)	(499	)	(428	)	(389	)	(32	)	(1,348	)
Other	(203	)	189		(282	)	95		(201	)	(94	)	182		(60	)	77		105
Net working capital changes	336		(1,536	)	(127	)	(307	)	(1,634	)	2,150		(1,630	)	734		496		1,750
Net Cash Provided by
Operating Activities	4,800		4,844		6,235		5,637		21,516		6,873		4,766		5,991		6,920		24,550

Cash Flows from Investing Activities
Capital expenditures and investments*:
E&P	(2,206	)	(2,172	)	(2,454	)	(2,681	)	(9,513	)	(2,570	)	(2,148	)	(2,177	)	(3,040	)	(9,935	)
Midstream	(1	)	(1	)	-		(2	)	(4	)	-		(2	)	-		(3	)	(5	)
R&M	(1,635	)	(475	)	(374	)	(532	)	(3,016	)	(205	)	(271	)	(276	)	(634	)	(1,386	)
LUKOIL Investment	(612	)	(648	)	(702	)	(753	)	(2,715	)	-		-		-		-		-
Chemicals	-		-		-		-		-		-		-		-		-		-
Emerging Businesses	(12	)	(28	)	(6	)	(37	)	(83	)	(31	)	(34	)	(62	)	(130	)	(257	)
Corporate and Other	(48	)	(78	)	(61	)	(78	)	(265	)	(41	)	(45	)	(45	)	(77	)	(208	)
Total capital expend. & investments	(4,514	)	(3,402	)	(3,597	)	(4,083	)	(15,596	)	(2,847	)	(2,500	)	(2,560	)	(3,884	)	(11,791	)
Acquisition of Burlington Resources Inc.*	(14,190	)	(94	)	(1	)	-		(14,285	)	-		-		-		-		-
Proceeds from asset dispositions	5		68		173		299		545		1,343		872		842		515		3,572
Long-term advances to/collections from
affiliates and other investments	(115	)	(151	)	(251	)	(140	)	(657	)	(144	)	(97	)	(118	)	16		(343	)
Net Cash Used for Investing Activities	(18,814	)	(3,579	)	(3,676	)	(3,924	)	(29,993	)	(1,648	)	(1,725	)	(1,836	)	(3,353	)	(8,562	)

Cash Flows from Financing Activities
Net issuance (repayment) of debt	15,324		(2,756	)	(1,630	)	(706	)	10,232		(3,491	)	(865	)	(961	)	(202	)	(5,519	)
Issuance of stock	40		64		41		75		220		40		141		70		34		285
Repurchase of stock	-		(425	)	(250	)	(250	)	(925	)	(1,000	)	(1,000	)	(2,501	)	(2,500	)	(7,001	)
Dividends	(496	)	(595	)	(593	)	(593	)	(2,277	)	(674	)	(668	)	(667	)	(652	)	(2,661	)
Other	(27	)	(20	)	(76	)	(62	)	(185	)	(49	)	(104	)	(136	)	(155	)	(444	)
Net Cash Provided by (Used for)
Financing Activities	14,841		(3,732	)	(2,508	)	(1,536	)	7,065		(5,174	)	(2,496	)	(4,195	)	(3,475	)	(15,340	)

Effect of Exchange Rate Changes	(33	)	113		(9	)	(56	)	15		(8	)	6		8		(15	)	(9	)

Net Change in Cash
and Cash Equivalents	794		(2,354	)	42		121		(1,397	)	43		551		(32	)	77		639
Cash and cash equivalents
at beginning of period	2,214		3,008		654		696		2,214		817		860		1,411		1,379		817
Cash and Cash Equivalents
at End of Period	3,008		654		696		817		817		860		1,411		1,379		1,456		1,456
* Net of cash acquired.

																	Page 4 of 12


TOTAL E&P

			2006						2007
	1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	YTD	1st Qtr	2nd Qtr		3rd Qtr	4th Qtr	YTD

E&P Net Income (Loss) ($ Millions)	2,553	3,304	1,904	2,087	9,848	2,329	(2,404	)	2,082	2,608	4,615

Production
Total, Including Equity Affiliates
and Canadian Syncrude (MBOE/D)	1,610	2,134	2,036	2,047	1,957	2,020	1,910		1,759	1,835	1,880
E&P segment plus LUKOIL Investment segment:	1,932	2,537	2,472	2,485	2,358	2,465	2,383		2,191	2,261	2,324

Crude Oil and Condensate (MB/D)
Consolidated	777	924	865	859	856	840	760		730	752	770
Equity affiliates	126	121	104	113	116	120	128		44	43	84
Total	903	1,045	969	972	972	960	888		774	795	854
Sales of crude oil produced (MB/D)	913	1,040	953	988	973	949	876		803	792	854

Natural Gas Liquids (MB/D)	97	152	146	150	136	150	145		139	187	155

Natural Gas (MMCF/D)
Consolidated	3,554	5,498	5,379	5,387	4,961	5,313	5,124		4,916	4,981	5,082
Equity affiliates	11	10	8	7	9	9	9		-	-	5
Total	3,565	5,508	5,387	5,394	4,970	5,322	5,133		4,916	4,981	5,087

Canadian Syncrude (MB/D)	16	19	23	26	21	23	21		27	23	23

Industry Prices (Platt's)
Crude Oil ($/bbl)
WTI spot	63.28	70.40	70.38	59.94	66.00	57.99	64.89		75.48	90.66	72.25
Brent dated	61.75	69.62	69.49	59.68	65.14	57.76	68.76		74.87	88.69	72.52
Natural Gas ($/mmbtu)
Henry Hub -- First of Month	9.01	6.80	6.58	6.56	7.24	6.77	7.55		6.16	6.97	6.86

Average Realized Prices
Crude Oil and Condensate ($/bbl)
Consolidated	58.97	65.89	67.37	56.87	62.39	55.17	64.55		73.01	86.28	69.47
Equity affiliates	43.38	52.28	46.98	41.79	46.01	40.02	47.74		44.60	52.45	45.31
Total	56.63	64.34	65.04	55.10	60.37	53.38	61.97		71.34	84.53	67.11

Natural Gas Liquids ($/bbl)	43.13	41.75	43.62	38.23	41.50	38.56	44.80		48.09	54.82	47.13

Natural Gas ($/mcf)
Consolidated	7.26	5.86	5.92	6.13	6.20	6.36	6.45		5.56	6.66	6.26
Equity affiliates	0.23	0.36	0.32	0.32	0.30	0.29	0.30		-	-	0.30
Total	7.24	5.85	5.91	6.12	6.19	6.35	6.44		5.56	6.66	6.26

Exploration Charges ($ Millions)
Dry Holes	19	15	18	142	194	62	74		23	50	209
Lease Impairments	19	33	37	68	157	86	59		51	58	254
Total Non-Cash Charges	38	48	55	210	351	148	133		74	108	463
Other (G&G and Lease Rentals)	74	86	142	181	483	114	126		144	160	544
Total Exploration Charges	112	134	197	391	834	262	259		218	268	1,007

Depreciation, Depletion and
Amortization (DD&A) ($ Millions)	910	1,659	1,860	1,703	6,132	1,802	1,790		1,828	1,971	7,391

										Page 5 of 12


U.S. E&P

				2006					2007
	1st Qtr	2nd Qtr		3rd Qtr	4th Qtr	YTD	1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	YTD

U.S. E&P Net Income ($ Millions)	1,181	1,300		995	872	4,348	916	1,055	1,225	1,052	4,248

Alaska ($ Millions)	692	760		425	470	2,347	507	535	765	448	2,255
Lower 48 ($ Millions)	489	540		570	402	2,001	409	520	460	604	1,993

Production
Total U.S. (MBOE/D)	636	894		846	856	808	855	848	821	847	843

Crude Oil and Condensate (MB/D)
Alaska	283	279		234	257	263	276	267	241	257	261
Lower 48	64	120		119	113	104	104	105	103	98	102
Total	347	399		353	370	367	380	372	344	355	363
Sales of crude oil produced (MB/D)	363	398		355	371	371	372	370	380	340	365

Natural Gas Liquids (MB/D)*
Alaska	22	20		11	17	17	22	18	15	19	19
Lower 48**	29	70		75	72	62	68	71	73	106	79
Total	51	90		86	89	79	90	89	88	125	98
*Includes reinjection volumes sold lease-to-lease:	14	14		7	9	11	16	15	11	13	14

Natural Gas (MMCF/D)
Alaska	163	163		123	131	145	122	100	116	102	110
Lower 48	1,264	2,265		2,320	2,250	2,028	2,190	2,219	2,219	2,101	2,182
Total	1,427	2,428		2,443	2,381	2,173	2,312	2,319	2,335	2,203	2,292

Average Realized Prices
Crude Oil and Condensate ($/bbl)
Alaska
North Slope	52.92	59.89		62.85	51.11	56.47	48.83	56.31	66.54	81.17	62.91
West Coast	58.87	66.02		69.66	57.00	62.66	55.50	63.26	73.57	87.88	69.75
Lower 48	52.21	59.63		62.45	51.26	57.04	49.32	58.50	67.77	78.98	63.49
Total U.S.	57.70	64.09		67.25	55.26	61.09	53.78	61.91	72.00	85.31	68.00

Natural Gas Liquids ($/bbl)
Alaska	58.88	65.25		67.12	57.03	61.06	55.27	63.52	73.40	88.12	71.85
Lower 48***	38.20	38.29		41.34	34.51	38.10	36.46	43.29	46.37	48.88	44.43
Total U.S.	43.00	40.45		42.68	36.74	40.35	37.86	44.17	47.73	51.23	46.00

Natural Gas ($/mcf)
Alaska	3.58	3.42		3.36	4.05	3.59	4.19	4.04	2.15	4.12	3.68
Lower 48	7.50	5.81		6.00	5.85	6.14	6.21	6.51	5.38	5.88	5.99
Total U.S.	7.42	5.78		5.98	5.84	6.11	6.19	6.49	5.36	5.86	5.98

Kenai, Alaska LNG Sales
Volume (MMCF/D)	128	126		110	88	113	104	72	88	78	85
Sales price per MCF	6.45	5.16		6.16	6.33	6.00	5.83	5.86	6.01	7.28	6.21

U.S. Exploration Charges ($ Millions)
Dry Holes	8	3		8	67	86	13	36	19	14	82
Lease Impairments	8	15		13	46	82	43	43	43	40	169
Total Non-Cash Charges	16	18		21	113	168	56	79	62	54	251
Other (G&G and Lease Rentals)	14	1		66	55	136	26	40	57	50	173
Total U.S. Exploration Charges	30	19		87	168	304	82	119	119	104	424
Alaska Only	18	(7	)	50	21	82	17	32	31	26	106

DD&A ($ Millions)
Alaska	132	135		137	151	555	168	167	165	167	667
Lower 48	251	634		784	623	2,292	618	661	667	642	2,588
Total U.S.	383	769		921	774	2,847	786	828	832	809	3,255
**Fourth quarter of 2007 includes 22 MBD related to out-of-period adjustments for the first three quarters in 2007. The amounts attributable to Q1, Q2, and Q3 2007 were 5, 8, and 9 MBD, respectively. Fourth-quarter 2007 NGL production in L48 was 84 MBD excluding the adjustments.
***Fourth quarter of 2007 includes $6.36/bbl related to out-of-period adjustments for the first three quarters in 2007. The amounts attributable to Q1, Q2, and Q3 2007 were $1.64/bbl, $2.23/bbl, and $2.49/bbl, respectively. Fourth-quarter 2007 NGL realized price in L48 was $55.24/bbl excluding the adjustments.
										Page 6 of 12


INTERNATIONAL E&P

			2006						2007
	1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	YTD	1st Qtr	2nd Qtr		3rd Qtr	4th Qtr	YTD
International E&P
Net Income (Loss) ($ Millions)	1,372	2,004	909	1,215	5,500	1,413	(3,459	)	857	1,556	367

Production
Total, Including Equity Affiliates
and Canadian Syncrude (MBOE/D)	974	1,240	1,190	1,191	1,149	1,165	1,062		938	988	1,037

Crude Oil and Condensate (MB/D)
Consolidated
Norway	188	192	190	185	189	179	145		166	158	162
United Kingdom	62	57	50	56	56	55	48		37	50	48
Canada	22	27	26	27	25	21	19		17	21	19
China	25	34	36	36	33	38	32		29	25	31
Indonesia	14	14	11	10	12	13	13		11	11	12
Vietnam	31	22	24	23	25	23	22		22	22	22
Timor Sea	39	39	40	27	36	24	26		21	19	22
Libya	-	74	71	56	50	45	47		48	47	47
Other	49	66	64	69	63	62	36		35	44	44
Equity affiliates
Canada	-	-	-	-	-	23	28		29	27	27
Russia	16	15	15	14	15	15	15		15	16	15
Venezuela	110	106	89	99	101	82	85		-	-	42
Total	556	646	616	602	605	580	516		430	440	491
Sales of crude oil produced (MB/D)	550	642	598	617	602	577	506		423	452	489

Natural Gas Liquids (MB/D)
Norway	11	8	9	8	9	8	5		7	12	8
United Kingdom	4	4	2	6	4	6	6		4	8	6
Canada	9	30	28	31	25	31	28		26	25	27
Timor Sea	20	20	20	15	18	12	14		11	12	12
Other	2	-	1	1	1	3	3		3	5	4
Total	46	62	60	61	57	60	56		51	62	57

Natural Gas (MMCF/D)
Consolidated
Norway	269	260	260	291	270	247	202		226	270	236
United Kingdom	851	796	665	734	761	785	668		519	723	673
Canada	424	1,204	1,154	1,140	983	1,152	1,133		1,069	1,073	1,106
China	-	10	8	9	7	11	12		13	8	11
Timor Sea	144	251	300	243	235	243	250		194	207	223
Indonesia	294	323	342	315	319	331	329		349	310	330
Vietnam	24	19	20	20	21	15	12		19	14	15
Libya	-	-	-	17	4	5	9		9	9	8
Other	121	207	187	237	188	212	190		183	164	188
Equity affiliates
Canada	-	-	-	-	-	-	-		-	-	-
Russia	-	-	-	-	-	-	-		-	-	-
Venezuela	11	10	8	7	9	9	9		-	-	5
Total	2,138	3,080	2,944	3,013	2,797	3,010	2,814		2,581	2,778	2,795

Canadian Syncrude (MB/D)	16	19	23	26	21	23	21		27	23	23

Darwin, Australia LNG Sales (MMCF/D)	136	305	411	382	310	388	449		347	348	383

										Page 7 of 12


INTERNATIONAL E&P (continued)

			2006					2007
	1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	YTD	1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	YTD

Average Realized Prices
Crude Oil and Condensate ($/bbl)
Consolidated
Norway	61.36	68.64	68.48	60.07	64.61	57.36	67.50	75.54	88.75	72.04
United Kingdom	59.13	65.32	64.67	58.71	62.08	55.52	66.99	72.98	86.26	71.01
Canada	44.28	60.86	61.00	49.28	54.25	48.70	58.42	67.75	73.08	61.77
China	57.90	66.68	64.68	51.06	60.00	54.93	66.39	71.79	85.51	67.69
Indonesia	57.94	58.15	62.69	52.21	57.80	54.66	65.46	72.46	89.26	69.99
Vietnam	62.34	68.53	71.35	56.77	64.75	57.88	67.03	75.14	89.64	72.54
Timor Sea	60.37	66.98	66.84	57.27	63.21	59.15	73.51	71.20	83.95	71.50
Libya	-	68.07	67.75	58.19	65.11	56.19	67.39	73.88	88.11	72.02
Other	62.95	69.20	70.39	60.92	65.85	55.73	67.71	74.48	87.54	69.76
Equity affiliates
Canada	-	-	-	-	-	32.46	32.46	38.48	46.90	37.94
Russia	40.86	46.87	48.29	36.86	43.20	37.92	50.25	55.84	63.05	52.29
Venezuela	43.71	53.03	46.78	42.48	46.40	42.54	51.54	-	-	47.46
Total	55.92	64.50	63.73	55.00	59.92	53.12	62.02	70.75	83.94	66.44

Natural Gas Liquids ($/bbl)
Norway	42.55	40.99	43.91	39.46	41.61	38.82	45.72	46.77	56.25	48.36
United Kingdom	35.39	34.87	38.51	22.38	31.29	34.93	39.34	36.91	52.79	41.78
Canada	46.21	46.73	46.16	43.87	45.62	41.15	46.82	51.77	66.27	50.85
Timor Sea	46.68	41.35	45.63	41.62	43.95	44.13	49.43	48.71	72.60	52.63
Other	8.11	8.09	8.11	8.25	8.15	8.32	29.42	34.00	42.30	31.17
Total	43.25	43.28	44.89	40.25	42.89	39.38	45.64	48.63	61.56	48.80

Natural Gas ($/mcf)
Consolidated
Norway	7.28	7.09	7.48	8.58	7.61	7.00	7.10	7.51	9.08	7.74
United Kingdom	8.81	6.84	7.08	8.52	7.85	8.14	7.23	6.69	9.19	7.92
Canada	6.28	5.47	5.43	5.91	5.67	6.38	6.60	5.13	6.20	6.09
China	-	1.90	4.11	2.80	2.87	2.64	2.74	2.78	3.37	2.85
Timor Sea	0.67	0.65	0.69	0.74	0.69	0.76	0.68	0.66	0.74	0.71
Indonesia	7.45	7.53	6.71	5.78	6.86	6.04	6.99	7.78	8.51	7.31
Vietnam	1.07	1.07	1.07	1.05	1.06	1.10	1.09	1.12	1.13	1.11
Libya	-	-	-	0.09	0.09	0.07	0.09	0.09	0.09	0.09
Other	0.82	2.57	2.04	2.02	1.98	2.71	2.53	2.41	3.43	2.75
Equity affiliates
Canada	-	-	-	-	-	-	-	-	-	-
Russia	-	-	-	-	-	-	-	-	-	-
Venezuela	0.23	0.36	0.32	0.32	0.30	0.29	0.30	-	-	0.30
Total	7.13	5.90	5.85	6.36	6.25	6.47	6.40	5.75	7.31	6.50

International Exploration Charges ($ Millions)
Dry Holes	11	12	10	75	108	49	38	4	36	127
Lease Impairments	11	18	24	22	75	43	16	8	18	85
Total Non-Cash Charges	22	30	34	97	183	92	54	12	54	212
Other (G&G and Lease Rentals)	60	85	76	126	347	88	86	87	110	371
Total International Exploration Charges	82	115	110	223	530	180	140	99	164	583

DD&A ($ Millions)	527	890	939	929	3,285	1,016	962	996	1,162	4,136

									Page 8 of 12


R&M

					2006										2007
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD

R&M Net Income ($ Millions)	390		1,708		1,464		919		4,481		1,136		2,358		1,307		1,122		5,923

United States ($ Millions)	297		1,433		1,444		741		3,915		896		1,879		873		967		4,615
International ($ Millions)	93		275		20		178		566		240		479		434		155		1,308

Market Indicators
U.S. East Coast Crack Spread ($/bbl)	7.52		15.21		10.54		7.86		10.28		11.81		22.57		11.73		8.47		13.64
U.S. Gulf Coast Crack Spread ($/bbl)	8.28		17.26		11.00		6.77		10.83		10.06		24.28		11.74		6.55		13.16
U.S. Group Central Crack Spread ($/bbl)	9.81		19.60		17.75		10.11		14.32		14.84		31.26		20.92		9.37		19.10
U.S. West Coast Crack Spread ($/bbl)	18.87		32.47		21.70		20.36		23.35		28.68		34.32		16.22		16.58		23.95
U.S. Weighted 3:2:1 Crack Spread ($/bbl)	10.56		20.39		14.86		10.49		14.07		15.30		27.56		14.74		9.65		16.81
NW Europe Crack Spread ($/bbl)	10.18		15.20		14.18		11.46		12.75		12.06		15.56		13.37		15.55		14.14
Singapore 3:1:2 Crack Spread ($/bbl)	10.58		19.30		15.13		11.03		14.01		14.06		17.94		14.80		17.13		15.98
U.S. Wholesale Gasoline Mktg Mrgn ($/bbl)	0.71		1.83		5.75		1.81		2.52		1.15		2.09		0.65		(0.43	)	0.87

Realized Margins
Refining Margin ($/bbl)
U.S.	10.18		17.23		14.10		11.39		13.29		11.87		19.59		10.86		11.56		13.41
International	5.30		7.64		6.46		6.22		6.50		5.06		9.68		6.05		6.72		6.92
Marketing Margin ($/bbl)*
U.S.	0.12		0.48		2.92		1.34		1.23		1.31		2.36		2.20		1.43		1.83
International	6.07		6.67		11.17		9.50		8.38		7.08		7.68		9.49		7.69		7.92


DD&A ($ Millions)	239		253		246		266		1,004		191		196		194		203		784

Turnaround Expense ($ Millions)	163		115		42		94		414		75		58		27		80		240

Eastern U.S.
Crude Oil Charge Input (MB/D)	354		281		377		411		356		411		404		383		412		402
Total Charge Input (MB/D)	359		309		418		457		386		460		447		414		453		443
Crude Oil Capacity Utilization (%)	84	%	66	%	89	%	97	%	84	%	97	%	96	%	91	%	97	%	95	%
Clean Product Yield (%)	90	%	87	%	88	%	90	%	89	%	89	%	86	%	86	%	90	%	88	%

U.S. Gulf Coast
Crude Oil Charge Input (MB/D)	529		681		730		737		670		744		709		736		712		726
Total Charge Input (MB/D)	587		777		822		812		750		823		790		829		794		810
Crude Oil Capacity Utilization (%)	72	%	93	%	100	%	101	%	91	%	102	%	97	%	100	%	97	%	99	%
Clean Product Yield (%)	74	%	81	%	83	%	80	%	80	%	81	%	81	%	80	%	82	%	81	%

Western U.S.
Crude Oil Charge Input (MB/D)	386		419		420		397		406		333		388		415		395		383
Total Charge Input (MB/D)	419		443		446		426		433		375		420		445		433		418
Crude Oil Capacity Utilization (%)	94	%	101	%	102	%	96	%	98	%	81	%	94	%	100	%	95	%	92	%
Clean Product Yield (%)	79	%	81	%	80	%	79	%	80	%	79	%	79	%	80	%	80	%	80	%

Central U.S. - Consolidated
Crude Oil Charge Input (MB/D)	571		619		600		583		593		185		170		166		175		174
Total Charge Input (MB/D)	613		663		638		621		634		188		175		170		179		178
Crude Oil Capacity Utilization (%)	89	%	97	%	94	%	91	%	93	%	99	%	91	%	89	%	94	%	93	%
Clean Product Yield (%)	84	%	86	%	85	%	85	%	85	%	88	%	93	%	88	%	92	%	90	%

Central U.S. - Equity Affiliates - Net Share**
Crude Oil Charge Input (MB/D)	-		-		-		-		-		265		225		280		267		259
Total Charge Input (MB/D)	-		-		-		-		-		288		250		301		288		282
Crude Oil Capacity Utilization (%)	-		-		-		-		-		96	%	81	%	101	%	96	%	94	%
Clean Product Yield (%)	-		-		-		-		-		82	%	85	%	83	%	84	%	84	%

TOTAL UNITED STATES
Crude Oil Charge Input (MB/D)	1,840		2,000		2,127		2,128		2,025		1,938		1,896		1,980		1,961		1,944
Total Charge Input (MB/D)	1,978		2,192		2,324		2,316		2,203		2,134		2,082		2,159		2,147		2,131
Crude Oil Capacity Utilization (%)	83	%	91	%	96	%	96	%	92	%	95	%	93	%	97	%	96	%	96	%
Clean Product Yield (%)	81	%	83	%	84	%	83	%	83	%	83	%	83	%	82	%	84	%	83	%

Refined Products Production (MB/D)
Gasoline	890		1,031		1,084		1,061		1,017		962		957		959		978		964
Distillates	684		764		821		824		774		762		736		779		795		768
Other	414		403		429		440		422		428		394		439		392		414
Total	1,988		2,198		2,334		2,325		2,213		2,152		2,087		2,177		2,165		2,146

Petroleum Products Sales (MB/D)
Gasoline	1,258		1,300		1,369		1,416		1,336		1,258		1,300		1,212		1,207		1,244
Distillates	813		820		848		921		850		862		827		869		929		872
Other	517		555		519		535		531		480		503		439		309		432
Total	2,588		2,675		2,736		2,872		2,717		2,600		2,630		2,520		2,445		2,548
* Represents marketing sales price less product costs for all distribution channels other than commercial product supply.
** Represents a 50 percent and 85 percent interest in the Wood River and Borger refineries, respectively. These refineries were contributed to a business venture with EnCana, effective January 1, 2007.
																	Page 9 of 12


R&M (continued)

					2006										2007
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD

International - Consolidated*
Crude Oil Charge Input (MB/D)	357		505		474		461		450		503		505		434		493		484
Total Charge Input (MB/D)	369		550		503		494		479		532		528		455		517		508
Crude Oil Capacity Utilization (%)	94	%	92	%	86	%	83	%	88	%	91	%	92	%	79	%	89	%	88	%
Clean Product Yield (%)	71	%	64	%	69	%	72	%	69	%	68	%	67	%	71	%	65	%	68	%

International - Equity Affiliates - Net Share**
Crude Oil Charge Input (MB/D)	133		144		143		144		141		120		145		140		124		132
Total Charge Input (MB/D)	137		149		149		147		145		121		146		142		125		134
Crude Oil Capacity Utilization (%)	94	%	102	%	102	%	102	%	100	%	83	%	101	%	104	%	106	%	98	%
Clean Product Yield (%)	82	%	82	%	81	%	80	%	81	%	77	%	79	%	81	%	84	%	80	%

TOTAL INTERNATIONAL
Crude Oil Charge Input (MB/D)	490		649		617		605		591		623		650		574		617		616
Total Charge Input (MB/D)	506		699		652		641		624		653		674		597		642		642
Crude Oil Capacity Utilization (%)	94	%	94	%	89	%	87	%	91	%	90	%	93	%	84	%	92	%	90	%
Clean Product Yield (%)	74	%	68	%	72	%	74	%	72	%	70	%	69	%	74	%	69	%	70	%

Refined Products Production (MB/D)
Gasoline	142		165		165		172		161		160		159		160		160		160
Distillates	228		297		288		291		276		289		302		273		277		285
Other	130		233		190		170		181		195		203		160		196		188
Total	500		695		643		633		618		644		664		593		633		633

Petroleum Products Sales (MB/D)
Gasoline	197		225		204		186		203		176		186		161		173		174
Distillates	339		397		374		399		377		381		379		328		366		363
Other	159		249		171		135		179		156		174		140		171		160
Total	695		871		749		720		759		713		739		629		710		697


Worldwide - Including Net Share of Equity Affiliates
Crude Oil Charge Input (MB/D)	2,330		2,649		2,744		2,733		2,616		2,561		2,546		2,554		2,578		2,560
Total Charge Input (MB/D)	2,484		2,891		2,976		2,957		2,827		2,787		2,756		2,756		2,789		2,773
Crude Oil Capacity Utilization (%)	85	%	91	%	95	%	94	%	92	%	94	%	93	%	94	%	95	%	94	%
Clean Product Yield (%)	79	%	80	%	81	%	81	%	80	%	80	%	80	%	80	%	81	%	80	%

Refined Products Production (MB/D)
Gasoline	1,032		1,196		1,249		1,233		1,178		1,122		1,116		1,119		1,138		1,124
Distillates	912		1,061		1,109		1,115		1,050		1,051		1,038		1,052		1,072		1,053
Other	544		636		619		610		603		623		597		599		588		602
Total	2,488		2,893		2,977		2,958		2,831		2,796		2,751		2,770		2,798		2,779

Petroleum Products Sales (MB/D)
Gasoline	1,455		1,525		1,573		1,602		1,539		1,434		1,486		1,373		1,380		1,418
Distillates	1,152		1,217		1,222		1,320		1,227		1,243		1,206		1,197		1,295		1,235
Other	676		804		690		670		710		636		677		579		480		592
Total	3,283		3,546		3,485		3,592		3,476		3,313		3,369		3,149		3,155		3,245
* Represents our Humber refinery in the United Kingdom, the Whitegate refinery in Ireland, and, effective March 1, 2006, our Wilhelmshaven refinery in Germany.
** Represents 18.75 percent interest in a refinery complex in Karlsruhe, Germany, and 47 percent interest in a refinery in Melaka, Malaysia. Through August 31, 2007, represents a 16.33 percent interest in two refineries in Kralupy and Litvinov, Czech Republic. We sold our interest in the two Czech refineries effective September 1, 2007.


																	Page 10 of 12


LUKOIL INVESTMENT

			2006					2007
	1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	YTD	1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	YTD
LUKOIL Investment
Net Income ($ Millions)	249	387	487	302	1,425	256	526	387	649	1,818

Upstream
Production*
Net crude oil production (MB/D)	306	346	388	397	360	393	427	390	395	401
Net natural gas production (MMCF/D)	98	343	288	247	244	309	278	249	188	256
BOE Total (MBOE/D)	322	403	436	438	401	445	473	432	426	444
* Represents our estimated net share of LUKOIL's production.

Industry Prices
Crude Oil ($/bbl)
Urals crude (CIF Mediterranean)	58.25	64.85	65.81	56.48	61.35	53.96	65.30	72.21	85.90	69.49

Downstream
Refinery Throughput*
Crude Processed (MB/D)	163	168	164	220	179	219	184	226	227	214
* Represents our estimated net share of LUKOIL's crude processed.




MIDSTREAM

			2006					2007
	1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	YTD	1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	YTD


Midstream Net Income ($ Millions)	110	108	169	89	476	85	102	104	162	453

U.S. Equity Affiliate ($ Millions)*	93	91	128	73	385	50	76	90	120	336

Natural Gas Liquids Extracted (MB/D)
Consolidated
United States	23	22	23	21	22	15	23	26	24	22
International	-	-	-	-	-	-	-	-	-	-
Equity Affiliates
United States*	178	183	180	181	181	174	181	182	189	181
International	6	6	7	7	6	8	7	8	8	8
Total	207	211	210	209	209	197	211	216	221	211
* Represents 50 percent interest in DCP Midstream.

Natural Gas Liquids Fractionated (MB/D)
United States*	141	125	124	136	131	161	163	155	160	160
International	11	14	14	12	13	13	13	13	13	13
Total	152	139	138	148	144	174	176	168	173	173
* Excludes DCP Midstream.


Product Prices
Weighted Average NGL ($/bbl)*
Consolidated	37.64	41.73	44.10	37.41	40.22	37.73	45.19	48.62	60.19	47.93
DCP Midstream	37.29	41.18	43.00	36.34	39.45	36.55	44.30	47.73	58.60	46.80
* Prices are based on index prices from the Mont Belvieu and Conway market hubs that are weighted by natural gas liquids component and location mix.


DD&A ($ Millions)	7	8	7	7	29	4	3	4	3	14



									Page 11 of 12


CHEMICALS

					2006										2007
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
Chemicals
Net Income (Loss) ($ Millions)	149		103		142		98		492		82		68		110		99		359

Industry Margins (Cents/Lb)*
Ethylene industry cash margin	20.5		14.3		17.0		16.0		17.0		11.1		10.8		11.5		9.7		10.8
HDPE industry contract sales margin	15.9		14.0		13.9		11.9		13.9		13.5		14.6		14.8		13.6		14.1
Styrene industry contract sales margin	12.5		11.9		11.3		11.5		11.8		11.1		11.6		11.5		10.7		11.2
* Prices, economics and views expressed by CMAI are strictly the opinion of CMAI and Purvin & Gertz and are based on information collected within the public sector and on assessments by CMAI and Purvin & Gertz staff utilizing reasonable care consistent with normal industry practice. CMAI and Purvin & Gertz make no guarantee or warranty and assume no liability as to their use.


EMERGING BUSINESSES

					2006										2007
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
Emerging Businesses
Net Income (Loss) ($ Millions)	8		(12	)	11		8		15		(1	)	(12	)	3		2		(8	)

Detail of Net Income (Loss) ($ Millions)
Power	31		3		26		22		82		13		(1	)	21		20		53
Other	(23	)	(15	)	(15	)	(14	)	(67	)	(14	)	(11	)	(18	)	(18	)	(61	)
Total	8		(12	)	11		8		15		(1	)	(12	)	3		2		(8	)



CORPORATE AND OTHER

					2006										2007
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
Corporate and Other
Net Income (Loss) ($ Millions)	(168	)	(412	)	(301	)	(306	)	(1,187	)	(341	)	(337	)	(320	)	(271	)	(1,269	)


Detail of Net Income (Loss) ($ Millions)
Net interest expense	(93	)	(267	)	(242	)	(268	)	(870	)	(244	)	(224	)	(195	)	(157	)	(820	)
Corporate overhead	(26	)	(39	)	(35	)	(33	)	(133	)	(23	)	(54	)	(49	)	(50	)	(176	)
Acquisition-related expenses	(5	)	(39	)	(32	)	(22	)	(98	)	(13	)	(16	)	(11	)	(4	)	(44	)
Other	(44	)	(67	)	8		17		(86	)	(61	)	(43	)	(65	)	(60	)	(229	)
Total	(168	)	(412	)	(301	)	(306	)	(1,187	)	(341	)	(337	)	(320	)	(271	)	(1,269	)


Before-Tax Net Interest Expense ($ Millions)
Interest expense	(226	)	(468	)	(417	)	(434	)	(1,545	)	(395	)	(411	)	(485	)	(340	)	(1,631	)
Capitalized interest	111		107		110		130		458		135		139		141		150		565
Interest revenue	30		35		38		2		105		31		24		153		38		246
Premium on early debt retirement	-		-		-		-		-		(17	)	-		-		-		(17	)
	(85	)	(326	)	(269	)	(302	)	(982	)	(246	)	(248	)	(191	)	(152	)	(837	)

Debt
Total Debt ($ Millions)	32,193		29,510		27,807		27,134		27,134		23,668		22,812		21,876		21,687		21,687
Debt-to-Capital Ratio	30	%	27	%	25	%	24	%	24	%	22	%	21	%	20	%	19	%	19	%

																	Page 12 of 12