Annual report pursuant to Section 13 and 15(d)

PLANT, PIPELINE AND EQUIPMENT

PLANT, PIPELINE AND EQUIPMENT

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

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



	2018			2017
	(thousands of dollars)
Platinum catalyst	$	1,612		$	1,612
Catalyst	3,131			779
Land	5,428			5,428
Plant, pipeline and equipment	253,905			186,946
Construction in progress	4,343			50,996
Total plant, pipeline and equipment	268,419			245,761
Less accumulated depreciation	(73,762		)	(63,240		)
Net plant, pipeline and equipment	$	194,657		$	182,521

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 2018, 2017 and 2016 was approximately $731,000, $937,000 and $450,000, respectively.

Labor capitalized for construction for 2018, 2017 and 2016 was approximately $2,307,000, $4,344,000 and $2,889,000, respectively.

Catalyst amortization relating to the platinum catalyst which is included in cost of sales was approximately $59,000, $25,000 and $98,000 for 2018, 2017 and 2016, respectively.