0000793306
2025-01-01
2025-12-31
0000793306
2024-01-01
2024-12-31
0000793306
2025-12-31
2025-01-01
2025-12-31
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0000793306
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BLUE DOLPHIN ENERGY COMPANY
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><span style="text-decoration: underline; ">Executive Compensation Clawback Policy</span>. Under Blue Dolphin's Clawback Policy, in the event Blue Dolphin is required to prepare an accounting restatement of its financial statements due to a material noncompliance with any financial reporting requirement under the securities laws, including any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period, the Board will require reimbursement or forfeiture of any excess Incentive Compensation (as defined within the policy) received by any Covered Executive (as defined within the policy) during the three (3) completed fiscal years immediately preceding the date on which Blue Dolphin is required to prepare an accounting restatement. A copy of our Clawback Policy, which was adopted by the Board in March 2025, was filed as Exhibit 97.01 to our <a href="http://www.sec.gov/Archives/edgar/data/793306/000143774925010478/ex_794010.htm" style="-sec-extract:exhibit;">Annual Report on Form 10-K for the fiscal year ended December 31, 2024</a>.</p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><i>Pay Versus Performance</i></b></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -1pt;">Although the following disclosure for principal executive officer ("PEO") and NEO pay are required by SEC rules, it is not reflective of how we or the Compensation Committee determine executive compensation for our executive officers, Messrs. Carroll and Klug. As noted above under "Executive Compensation Policy and Procedures,” Messrs. Carroll and Klug’s remuneration is provided by LEH under the Fifth Amended and Restated Operating Agreement. As a result, there is no applicable information to be provided pursuant to this table.</p>
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<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 10%; border-bottom: 1px solid black;">
<p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">Year</p>
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<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid black;">Summary Compensation Table Total for PEO</td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: 1px solid black;"> </td>
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<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid black;">Compensation Actually Paid to PEO</td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: 1px solid black;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid black;"> </td>
<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid black;">Average Summary Compensation Table Total for Non-PEO NEOs</td>
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<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid black;"> </td>
<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid black;">Average Compensation Actually Paid to non-PEO NEOs</td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: 1px solid black;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid black;"> </td>
<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid black;">Value of Initial Fixed $100 Investment Based on Total Shareholder Return</td>
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<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid black;">
<p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">Net Income</p>
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<tr class="finHeading" style="background-color: rgb(255, 255, 255); vertical-align: bottom">
<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; text-align: center;"> </td>
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<td colspan="22" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
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<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom">
<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">2025</p>
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<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
<td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
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<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
<td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
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<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
<td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
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<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
<td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
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<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
<td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
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<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
<td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td>
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<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">2024</p>
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<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
<td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
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<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
<td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td>
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<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
<td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td>
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<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
<td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td>
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<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
<td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
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<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
<td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td>
</tr>
</tbody></table>
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