Annual report pursuant to Section 13 and 15(d)

PLANT, PIPELINE AND EQUIPMENT

v3.3.1.900
PLANT, PIPELINE AND EQUIPMENT
 12 Months Ended
Dec. 31, 2015
PLANT, PIPELINE AND EQUIPMENT [Abstract]  
PLANT, PIPELINE AND EQUIPMENT
NOTE 8 – PLANT, PIPELINE AND EQUIPMENT

Plant, pipeline and equipment include the following at December 31:

   
2015
    
2014
  
   
(thousands of dollars)
  
Platinum catalyst
  
$
1,612
    
$
1,612
  
Land
    
4,577
      
4,577
  
Plant, pipeline and equipment
    
128,302
      
95,351
  
Construction in progress
    
8,980
      
11,590
  
Total plant, pipeline and equipment
    
143,471
      
113,130
  
    Less accumulated depreciation
    
(46,564
)
    
(39,319
)
Net plant, pipeline and equipment
  
$
96,907
    
$
73,811
  

Plant, pipeline and equipment serve as collateral for our amended and restated loan agreement with a domestic bank (see Note 12).

Interest capitalized for construction for 2015 was approximately $141,000.  Interest capitalized for 2014 and 2013 was not significant to the consolidated financial statements.

Catalyst amortization relating to the platinum catalyst which is included in cost of sales was $84,269, $84,269 and $38,232 for 2015, 2014 and 2013, respectively.