As at 31 December 2019 and 31 December 2018 the State Treasury owned 27.52% of the ORLEN Group Parent Company’s shares – PKN ORLEN and has ability to exert a significant influence on it.
The Group identified related party transactions with the State Treasury on the basis of „Regulation of the Council of Ministers of 27 March 2019 on the list of companies in which the rights of the State Treasury shares carry other than the President Council of Ministers members of the Council of Ministers’, Government Plenipotentiaries or state legal entities including single-member companies of the State Treasury” with subsequent updates).
In 2019 and in 2018 and as at 31 December 2019 and as at 31 December 2018, the Group identified the following transactions:
| 2019 | 2018 | |
|---|---|---|
| Sales | 2,083 | 1,943 |
| Purchases | (4,406) | (5,126) |
| 31/12/2019 | 31/12/2018 | |
|---|---|---|
| Trade and other receivables | 339 | 230 |
| Trade and other liabilities | 683 | 189 |
Above transactions were concluded on an arm’s length basis, were related to the ORLEN Group current operating activities and concerned mainly fuel sales, purchase and sales of natural gas, energy, transport and storage services.
Additionally, there were also financial transactions (loans, guarantees, bank fees, commission) with Bank PKO BP, Bank Pekao S.A. and Bank Gospodarstwa Krajowego (bank fees, commission).