INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of tax effects of significant items comprising net deferred tax assets and liabilities

The tax effects of significant items comprising our net deferred tax assets and liabilities at December 31, 2015 and 2014 are as follows (in thousands):



	December 31,
	2015			2014
Deferred tax asset:
Net operating loss carryforward	$	18,236		$	21,652
Property, plant and equipment - refinery	23,447			22,333
Other	3,016			2,879
Total deferred tax asset	$	44,699		$	46,864

Deferred tax liability:
Property, plant and equipment - terminals	$	1,189		$	2,124
Other	—			55
Total deferred tax liability	1,189			2,179
Net deferred tax asset	43,510			44,685
Less: Valuation allowance	(41,056		)	(42,893		)
Deferred taxes, net	$	2,454		$	1,792