Annual report pursuant to Section 13 and 15(d)

PREPAID EXPENSES AND OTHER ASSETS

v3.8.0.1
PREPAID EXPENSES AND OTHER ASSETS
 12 Months Ended
Dec. 31, 2017
PREPAID EXPENSES AND OTHER ASSETS [Abstract]  
PREPAID EXPENSES AND OTHER ASSETS
NOTE 7 – PREPAID EXPENSES AND OTHER ASSETS

Prepaid expenses and other assets at December 31 are summarized as follows:

   
2017
    
2016
  
   
(thousands of dollars)
  
Prepaid license
  
$
1,919
    
$
1,919
  
Prepaid catalyst
    
779
      
187
  
Prepaid insurance
    
-
      
797
  
Spare parts
    
954
      
-
  
Other prepaid expenses and assets
    
772
      
608
  
   Total
  
$
4,424
    
$
3,511
  

Beginning January 1, 2017, due to the expansion of our plant assets at SHR and TC, we began inventorying spare parts for the repair and maintenance of our plant, pipeline and equipment.