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flag Blue Dolphin Energy narrowed losses in Q3 2025 and improved cash position, despite a growing working capital deficit.

flag Blue Dolphin Energy reported improved financial results for the third quarter and first nine months of 2025 compared to 2024. flag The company posted a net loss of $4.7 million in the third quarter, down from $5.0 million a year earlier, with adjusted EBITDA losses narrowing in refinery operations. flag For the first nine months, net loss decreased to $4.2 million from $4.7 million, while consolidated EBITDA rose to $0.8 million. flag Cash and cash equivalents grew to $3.3 million by September 30, 2025, though the working capital deficit widened to $23.1 million. flag The company operates a 15,000-barrel-per-day refinery in Nixon, Texas, and trades on the OTCQX under BDCO.

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