8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                    FORM 8-K


                                 CURRENT REPORT


                       PURSUANT TO SECTION 13 OR 15(D) OF
                     THE SECURITIES AND EXCHANGE ACT OF 1934

 Date of Report: (Date of earliest event reported): May 13, 2005 (May 13, 2005)


                           Blue Dolphin Energy Company
             (Exact name of registrant as specified in its charter)



       Delaware                      0-15905                      73-1268729
(State of Incorporation)    (Commission file Number)            (IRS Employer
                                                             Identification No.)

                             801 Travis, Suite 2100
                              Houston, Texas 77002
              (Address of Registrant's principal executive offices)

                                 (713) 227-7660
              (Registrant's telephone number, including area code)



Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:

|_|  Written communication pursuant to Rule 425 under the Securities Act (17 CFR
     230.425)

|_|  Soliciting  material pursuant to rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

|_|  Pre-commencement   communications  pursuant  to  Rule  14d-2(b)  under  the
     Exchange Act (17 CFR 240.14d-2(b))

|_|  Pre-commencement   communications  pursuant  to  Rule  13e-4(c)  under  the
     Exchange Act (17 CFR 240.13e-4(c))






ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

     On May 13, 2005, Blue Dolphin Energy Company, a Delaware corporation ("Blue
Dolphin"),  issued a press release  reporting its earnings for the first quarter
ended March 31, 2005.



ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

          (c) Exhibits

               99.1 Press Release issued May 13, 2005.


SIGNATURE



     Pursuant to the  requirements  of the  Securities  Exchange Act of 1934, as
amended,  the  registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.

Date:   May 13, 2005.

                                                     BLUE DOLPHIN ENERGY COMPANY


                                                        /s/ G. Brian Lloyd
                                                       -------------------------
                                                       By:  G. Brian Lloyd
                                                       Vice President, Treasurer






                                INDEX TO EXHIBITS


Exhibit           Description of Exhibit
- -------           ----------------------

99.1              Press Release issued May 13, 2005.

EX-99.1

                                  EXHIBIT 99.1



                                  NEWS RELEASE


FOR IMMEDIATE RELEASE                                               May 13, 2005


Houston, Texas - Blue Dolphin Energy Company (NASDAQ Symbol: BDCO)


BLUE DOLPHIN ENERGY COMPANY REPORTS FIRST QUARTER RESULTS

Blue  Dolphin  Energy  Company  reported a net loss of  $196,992  on revenues of
$359,030  for the  quarter  ended  March  31,  2005,  compared  to a net loss of
$519,606  on revenues of $358,931  for the  quarter  ended March 31,  2004.  The
improvement  in 2005  results  was  primarily  due to  gains  recorded  from the
placement  of  our  interests  in  certain   offshore  oil  and  gas  leases  of
approximately  $140,000, and the elimination of accrued interest pursuant to the
restructuring of a promissory note of approximately $132,000.


                                      (In thousands, except per share amounts)
                                                   Quarter Ended
                                                     March 31,
                                                                 Net Change
                                          2005        2004      2005 vs 2004
                                        --------    --------    ------------

        Revenues                        $    359    $    359    $        --
        Net loss                        $   (197)   $   (520)   $        323
        Net loss per common share
             Basic and diluted          $  (0.03)   $  (0.08)   $       0.05


There are currently 8,988,546 shares of common stock issued and outstanding.

Blue Dolphin  Energy Company is engaged in the gathering and  transportation  of
natural gas and condensate. Questions should be directed to G. Brian Lloyd, Vice
President,  Treasurer, at the Company's offices in Houston, Texas, 713-227-7660.
For further information see our Home Page at http://www.blue-dolphin.com.