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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment  
Property, Plant and Equipment

Note 12. Property, Plant and Equipment

The following changes in property, plant and equipment were recorded during the year  ended December 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Initial adoption

 

 

 

 

 

 

 

Dispositions

 

 

 

 

Currency

 

 

 

 

 

Opening

 

of

 

 

 

 

 

 

 

of

 

 

 

 

translation

 

Ending

Costs

    

balance

    

IFRS 16

    

Additions

    

Disposals

    

subsidiaries

    

Reclassification

    

adjustments

    

balance

Refinery and power plants

 

$

68,559

 

$

 —

 

$

219

 

$

 —

 

$

 —

 

$

 —

 

$

(2,077)

 

$

66,701

Processing plant and equipment

 

 

3,761

 

 

 —

 

 

443

 

 

(326)

 

 

(1,019)

 

 

406

 

 

42

 

 

3,307

Office equipment

 

 

1,450

 

 

 —

 

 

332

 

 

(291)

 

 

(95)

 

 

(406)

 

 

(70)

 

 

920

Office premises*

 

 

 —

 

 

2,911

 

 

1,583

 

 

(278)

 

 

(2,500)

 

 

 —

 

 

(162)

 

 

1,554

 

 

$

73,770

 

$

2,911

 

$

2,577

 

$

(895)

 

$

(3,614)

 

$

 —

 

$

(2,267)

 

$

72,482

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Initial adoption

 

 

 

 

 

 

 

Dispositions

 

 

 

 

Currency

 

 

 

 

 

Opening

 

of

 

 

 

 

 

 

 

of

 

 

 

 

translation

 

Ending

Accumulated depreciation

    

balance

    

IFRS 16

    

Additions

    

Disposals

    

subsidiaries

    

Reclassification

    

adjustments

    

balance

Refinery and power plants

 

$

12,763

 

$

 —

 

$

2,641

 

$

 —

 

$

 —

 

$

 —

 

$

(521)

 

$

14,883

Processing plant and equipment

 

 

1,873

 

 

 —

 

 

416

 

 

(326)

 

 

(842)

 

 

387

 

 

(54)

 

 

1,454

Office equipment

 

 

809

 

 

 —

 

 

145

 

 

(136)

 

 

(36)

 

 

(387)

 

 

(29)

 

 

366

Office premises*

 

 

 —

 

 

 —

 

 

738

 

 

 —

 

 

(367)

 

 

 —

 

 

(5)

 

 

366

 

 

 

15,445

 

$

 —

 

$

3,940

 

$

(462)

 

$

(1,245)

 

$

 —

 

$

(609)

 

 

17,069

Net book value

 

$

58,325

 

 

 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

$

55,413

*    right-of-use assets.

 

As at December 31, 2019, the net book value of right-of-use assets was $1,188.

 

The following changes in property, plant and equipment were recorded during the year ended December 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dispositions

 

 

 

 

Currency

 

 

 

 

 

Opening

 

 

 

 

 

 

 

of

 

 

 

 

translation

 

Ending

Costs

    

balance

    

Additions

    

Disposals

    

subsidiaries

    

Impairments

    

adjustments

    

balance

Refinery and power plants

 

$

92,434

 

$

 —

 

$

(148)

 

$

(27,214)

 

$

 —

 

$

3,487

 

$

68,559

Processing plant and equipment

 

 

3,703

 

 

88

 

 

(25)

 

 

 —

 

 

(42)

 

 

37

 

 

3,761

Office equipment

 

 

1,135

 

 

340

 

 

(56)

 

 

 —

 

 

(4)

 

 

35

 

 

1,450

 

 

$

97,272

 

$

428

 

$

(229)

 

$

(27,214)

 

$

(46)

 

$

3,559

 

$

73,770

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dispositions

 

 

 

Currency

 

 

 

 

 

Opening

 

 

 

 

 

 

 

of

 

 

 

translation

 

Ending

Accumulated depreciation

    

balance

    

Additions

    

Disposals

    

subsidiaries

    

Impairments

    

adjustments

    

balance

Refinery and power plants

 

$

11,047

 

$

2,775

 

$

(148)

 

$

(1,668)

 

$

 —

 

$

757

 

$

12,763

Processing plant and equipment

 

 

1,626

 

 

255

 

 

(10)

 

 

 —

 

 

(27)

 

 

29

 

 

1,873

Office equipment

 

 

645

 

 

211

 

 

(60)

 

 

 —

 

 

(4)

 

 

17

 

 

809

 

 

 

13,318

 

$

3,241

 

$

(218)

 

$

(1,668)

 

$

(31)

 

$

803

 

 

15,445

Net book value

 

$

83,954

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

 

$

58,325

 

As of December 31, 2019, the Group owned a power plant which had a carrying amount of $29,931. Pursuant to an assessment study of which the future cash flows were discounted at 8%,  management concluded that there was no impairment loss on December 31, 2019. Numerous variables were utilized for this assessment, including inflation expectations, performance of contracts, discount rates, and maintenance costs. Any change in these assumptions and variables could have an impact on the valuation of the asset. If the discount rate had been 100 basis point higher, there would have been no change to the Group’s net loss for the year ended December 31, 2019.

During the year ended December 31, 2018, the Group deconsolidated a subsidiary which owned a power plant (see Note 29).

During the year ended December 31, 2019, 2018 and 2017 respectively, no expenditures were recognized in the carrying amounts of items of property, plant and equipment in the course of their construction.