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PLANT, PIPELINE AND EQUIPMENT
 12 Months Ended
Dec. 31, 2016
PLANT, PIPELINE AND EQUIPMENT [Abstract]  
PLANT, PIPELINE AND EQUIPMENT
NOTE 9 – PLANT, PIPELINE AND EQUIPMENT

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

  
2016
  
2015
 
  
(thousands of dollars)
 
Platinum catalyst
 
$
1,612
  
$
1,612
 
Land
  
5,376
   
4,577
 
Plant, pipeline and equipment
  
154,107
   
128,302
 
Construction in progress
  
33,391
   
8,980
 
Total plant, pipeline and equipment
  
194,486
   
143,471
 
    Less accumulated depreciation
  
(54,477
)
  
(46,564
)
Net plant, pipeline and equipment
 
$
140,009
  
$
96,907
 

Plant, pipeline and equipment serve as collateral for our amended and restated loan agreement with a domestic bank (see Note 13).

Interest capitalized for construction for 2016 and 2015 was approximately $450,000 and $141,000, respectively.  Interest capitalized for 2014 was not significant to the consolidated financial statements.

Catalyst amortization relating to the platinum catalyst which is included in cost of sales was approximately $98,000, $84,000 and $84,000 for 2016, 2015 and 2014, respectively.