Note 3 - Related-Party Transactions (Tables)

9 Months Ended

Sep. 30, 2025

Notes Tables

Schedule of Related Party Transactions [Table Text Block]

		Original		Monthly
		Principal		Payment
Loan Description	Parties	(in millions)	Maturity Date	(in millions)	Interest Rate	Loan Purpose
Second Amended and Restated Affiliate Revolving Credit Agreement	Blue Dolphin and Subsidiaries	$15 maximum(1)	April 2026	Set-off against other obligations Borrower owes to Lender	WSJ Prime + 2.00%	Working capital
	LEH and Subsidiaries
Amended and Restated BDPL-LEH Loan Agreement	LEH	$4.0	April 2027	$0.25	12.00%	Working capital
	BDPL

Schedule of Related Party Transactions, Consolidated Balance Sheets [Table Text Block]

	September 30,		December 31,
	2025		2024
	(in thousands)
Current assets
Accounts receivable, related party	$	8,056	$	5,247
Current liabilities
Accounts payable, related party		-		-

Schedule of Outstanding Long-term Debt to Related Parties [Table Text Block]

	September 30,			December 31
	2025			2024
	(in thousands)
LEH
Amended and Restated BDPL-LEH Loan Agreement	$	4,000		$	4,000
Line of credit, related party		11,925			3,250
LEH Total		15,925			7,250
Less: Long-term debt, related party, current portion		(2,555	)		(1,459	)
Less: Line of credit, related party		(11,925	)		(3,250	)
Long-term debt, related party, net of current portion	$	1,445		$	2,541

	September 30,			December 31
	2025			2024
	(in thousands)
LEH
Amended and Restated BDPL-LEH Loan Agreement	$	96		$	1,308
Line of credit, related party		-			-
LEH Total		96			1,308
Jonathan Carroll
Guaranty fee agreements		185			129
		281			1,437
Less: Long-term debt, related party, current portion		(281	)		(1,437	)
Long-term interest payable, related party, net of current portion	$	-		$	-

Schedule of Related Party Transactions, Consolidated Statements of Operations [Table Text Block]

	Three Months Ended September 30,								Nine Months Ended September 30,
	2025				2024				2025				2024
	(in thousands, except percent amounts)								(in thousands, except percent amounts)
Refinery operations
LEH	$	28,123	40.0	%	$	21,185	25.8	%	$	77,192	36.6	%	$	84,591	34.8	%
Third-Parties		41,467	58.9	%		60,095	73.2	%		131,061	62.2	%		155,152	63.9	%
Tolling and terminaling
LEH		585	0.8	%		540	0.7	%		1,665	0.8	%		1,620	0.7	%
Third-Parties		180	0.3	%		289	0.4	%		712	0.3	%		1,427	0.6	%
	$	70,355	100.0	%	$	82,109	100.0	%	$	210,630	100.0	%	$	242,790	100.0	%

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
	(in thousands)				(in thousands)
Jonathan Carroll
Guaranty Fee Agreements
Tied to First Term Loan Due 2034	$	90	$	96	$	275	$	291
Tied to NPS Term Loan Due 2031		45		66		138		166
Tied to Second Term Loan Due 2034		38		40		115		121
Tied to Blue Dolphin Term Loan Due 2051		10		10		30		30
LEH
Amended and Restated BDPL-LEH Loan Agreement		135		106		394		318
	$	318	$	318	$	952	$	926