Exhibit 14.1

CODE OF ETHICS APPLICABLE TO THE CHAIRMAN AND CHIEF EXECUTIVE OFFICER, PRESIDENT
AND SENIOR FINANCIAL OFFICER

Blue Dolphin Energy Company ("Blue Dolphin") requires ethical conduct in the
practice of financial management. The Chairman and Chief Executive Officer,
President and Senior Financial Officer each hold an important and elevated role
in corporate governance. They are uniquely positioned and empowered to ensure
that the Company's, and its stockholders', interests are appropriately balanced,
protected and preserved. This code provides principles that these officers must
adhere to and advocate.

As the Chairman and Chief Executive Officer, President or Senior Financial
Officer I will:

      -     Embody and enforce this Code of Ethics.

      -     Ensure that this Code of Ethics is communicated at least annually to
            all financial employees.

      -     Formally and promptly communicate any breach of this Code of Ethics
            to the Audit Committee.

      -     Act at all times with honesty, integrity and independence, avoiding
            actual or apparent conflicts of interest in personal and
            professional relationships.

      -     Discuss with the Audit Committee, in advance, any transaction that
            reasonably could be expected to give rise to a conflict of interest,
            or any transaction involving a related party.

      -     Provide full, fair, accurate, complete, objective, timely and
            understandable financial disclosures in internal reports as well as
            documents filed or submitted to the Securities Exchange Commission,
            any other government agency or self-regulatory organization, or used
            in public communications.

      -     Comply with all applicable rules and regulations of federal, state
            and local governments, the Securities Exchange Commission, the
            NASDAQ Small Cap Market and any other exchanges on which the
            Company's stock is listed, and other appropriate private and public
            regulatory agencies.

      -     Comply with the Company's policies and procedures.

      -     Act in good faith, responsibly, with due care, competence,
            diligence, and without knowingly misrepresenting material facts or
            allowing my better judgment to be subordinated.

      -     Protect and respect the confidentiality of information acquired in
            the course of my work except when authorized or otherwise legally
            obligated to disclose. Confidential information acquired in the
            course of my work will not be used for personal advantage.

      -     Be recognized as a responsible partner among peers.

      -     Responsibly use and control assets and other resources employed or
            entrusted to my supervision.