5. Sales revenues

6 Months Ended

Jun. 30, 2020

Sales Revenues

Sales revenues

5. Sales revenues

	2020	2019	2020	2019
	Jan-Jun	Jan-Jun	Apr-Jun	Apr-Jun
Diesel	6,599	11,368	2,513	5,949
Gasoline	2,813	4,945	914	2,598
Liquefied petroleum gas	1,607	2,100	705	1,090
Jet fuel	926	1,924	76	946
Naphtha	930	895	258	475
Fuel oil (including bunker fuel)	388	545	122	259
Other oil products	1,193	1,667	501	832
Subtotal oil products	14,456	23,444	5,089	12,149
Natural gas	1,940	2,933	729	1,417
Renewables  and nitrogen products	32	141	6	62
Breakage	234	334	143	169
Electricity	372	659	80	162
Services, agency and others	386	507	227	178
Domestic market	17,420	28,018	6,274	14,137
Exports	8,419	7,794	2,799	3,937
Sales  abroad (*)	785	1,493	408	428
Foreign market	9,204	9,287	3,207	4,365
Sales revenues (**)	26,624	37,305	9,481	18,502
(*) Sales revenues from operations outside of Brazil, including trading and excluding exports.
(**) Sales revenues by business segment are set out in note 9.

In six-month periods ended June 30, 2020 and 2019, sales to BR Distribuidora represent more than 10% of the Company sales revenues, mainly associated with the refining, transportation and marketing segment. 

5.1. Remaining performance obligations

The Company has current sales contracts with original expected duration of more than 1 year, in which the volumes of goods or services for future sales are determined, as well as their respective payment terms.

The revenues will be recognized once goods are transferred and services are provided to the customers and their measurement and timing of recognition will be subject to future demands, changes in commodities prices, exchange rates and other market factors.

The estimated remaining values of these contracts at June 30, 2020 presented below are based on the contractually agreed future sales volumes, as well as prices prevailing at June 30, 2020 or practiced in recent sales when they reflect the more directly observable information:

	Total	Expected recognition within 1 year
Domestic market
Gasoline	2,225	2,225
Diesel	4,836	4,836
Natural gas	13,071	2,150
Services and others	9,041	4,579
Naphtha	777	777
Electricity	2,988	570
Other oil products	26	26
Jet fuel	637	637
Foreign market
Exports	9,864	1,527
Total	43,465	17,327

The table above does not include information on contracts with original expected duration of one year or less, such as spot-market contracts, variable considerations which are constrained, and information on contracts only establishing general terms and conditions (Master Agreements), for which volumes and prices will only be defined in subsequent contracts.

In addition, electricity sales are mainly driven by demands to generate electricity from thermoelectric power plants, as and when requested by the Brazilian National Electric System Operator (ONS). These requests are substantially affected by Brazilian hydrological conditions. Thus, the table above presents mainly fixed amounts for the electricity to be available to customers in these operations.

5.2. Contract liabilities

The balance of contract liabilities carried on the statement of financial position at June 30, 2020 amounted to US$ 74 (US$ 128 as of December 31, 2019). This amount is classified as other current liabilities and primarily comprises advances from customers in ship and take or pay contracts to be recognized as revenue based on future sales of natural gas or following the non-exercise of the right by the customer.