9. Inventories
Inventories as of December 31, 2012, December 31, 2011 and as of January 1, 2011 consist of the following:
| December 31, 2012 | December 31, 2011 | January 1, 2011 | |
|---|---|---|---|
Crude oil and gas |
16,727 |
18,215 |
12,111 |
Petroleum products and petrochemicals |
48,705 |
35,702 |
24,831 |
Materials and supplies |
20,214 |
19,804 |
18,631 |
Other |
5,096 |
4,263 |
2,607 |
Less provision for impairment |
(2,458) |
(3,783) |
(1,644) |
Total inventory |
88,284 |
74,201 |
56,536 |
As part of the management of crude inventory, the Group may enter transactions to buy and sell crude oil from the same counterparty. Such transactions are referred to as buy/sell transactions and are undertaken in order to reduce transportation costs or to obtain alternate quality grades of crude oil. The total value of buy / sell transactions undertaken for the years ended December 31 is as follows:
Notes in Consolidated Statements:
Consolidated Statement of Financial Position as of December 31, 2012 Back to list