-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 SvBZOSlz1ZD74KcOoTLI8KzBlyH9EqwAqySODNp8IKyj9r4PMcqIUhJ3z5bBJX/S
 qQoBL2bK1/Kz52HuGjDxzw==

<SEC-DOCUMENT>0001010549-08-000487.txt : 20080606
<SEC-HEADER>0001010549-08-000487.hdr.sgml : 20080606
<ACCEPTANCE-DATETIME>20080606155629
ACCESSION NUMBER:		0001010549-08-000487
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080605
FILED AS OF DATE:		20080606
DATE AS OF CHANGE:		20080606

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLUE DOLPHIN ENERGY CO
		CENTRAL INDEX KEY:			0000793306
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				731268729
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		801 TRAVIS SUITE 2100
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002-5729
		BUSINESS PHONE:		7132277660

	MAIL ADDRESS:	
		STREET 1:		801 TRAVIS SUITE 2100
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002-5729

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MUSTANG RESOURCES CORP
		DATE OF NAME CHANGE:	19900122

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZIM ENERGY CORP
		DATE OF NAME CHANGE:	19870921

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Ostbye Erik
		CENTRAL INDEX KEY:			0001364060

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15905
		FILM NUMBER:		08885760

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		203-341-3636

	MAIL ADDRESS:	
		STREET 1:		C/O CHIANTI ASSET MANAGEMENT, LLC
		STREET 2:		1 GORHAM ISLAND
		CITY:			WESTPORT
		STATE:			CT
		ZIP:			06880
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bdco4ostbye060508_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-06-05</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000793306</issuerCik>
        <issuerName>BLUE DOLPHIN ENERGY CO</issuerName>
        <issuerTradingSymbol>BDCO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001364060</rptOwnerCik>
            <rptOwnerName>Ostbye Erik</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O CHIANTI ASSET MANAGEMENT, LLC</rptOwnerStreet1>
            <rptOwnerStreet2>1 GORHAM ISLAND</rptOwnerStreet2>
            <rptOwnerCity>WESTPORT</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06880</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-06-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3817</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.31</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>14141</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Board of Directors Fees</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Erik Ostbye</signatureName>
        <signatureDate>2008-06-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----