INTEGRATED
REPORT
2019

11.5. Revenue from contracts with customers by date of transfer

NOTE Downstream Segment Retail
Segment
Upstream Segment Corporate Functions Total
2019 2018 2019 2018 2019 2018 2019 2018 2019 2018
At a point in time 49,634 50,965 28,961 19,267 21 15 78,616 70,247
Over time 21,847 20,603 9,742 17,965 608 605 38 64 32,235 39,237
11.1 71,481 71,568 38,703 37,232 608 605 59 79 110,851 109,484

As part of the Downstream segment, with respect to sales of petrochemical and refinery products, the Group recognises revenue from satisfaction of performance obligation, depending on the terms of delivery (Incoterms) used. In case of some deliveries the Group is obliged to organize transport and/or insurance. When the control of good passes to the customer before the transport is performed, the delivery of goods and transport (and possibly insurance) are separate performance obligation. The delivery of goods is an obligation satisfied at a point in time, while the transport is a continuous obligation (satisfied over time). In case of transport and insurance, the customer simultaneously receives and consumes the benefits from the service.

In the Retail segment, the moment of satisfaction of performance obligation and recognizing revenues is the moment of transfer of good, except for sales of fuels using Fleet Cards.

In case of sales satisfied over time the Group recognises revenues at least on a monthly basis, where settlements between parties to the contract take place periodically and reflect the amount of consideration that the Group is entitled to for transfer of goods and services to the customer. Revenue recognized over time mainly relate to sale of energy and heat within the Downstream segment, sale of fuels using Fleet cards within Retail segment and sale of gas and crude oil within Upstream segment.

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