Dyer, a Vitol employee and member of Blueknight’s board of directors, was appointed CEO of Blueknight Energy Partners LP in December 2009. He informed the board on Jan. 6 of his intended retirement, which will be effective upon the board appointing a new CEO.   Dyer will remain with Vitol as vice president and director of business development, and will direct Vitol’s growing interests in West Texas. At the request of the Blueknight board, he has agreed to continue as CEO until his successor assumes responsibilities.

The Partnership has engaged a national executive search firm to assist the board of directors in selecting a new chief executive officer.   Despite the departure of Dyer, Vitol remains fully committed to the future growth of Blueknight.    Mike Loya, a member of the board of directors affiliated with Vitol, said, “Vitol remains solidly committed to building and growing Blueknight. We look forward to a productive 2012 for Blueknight, and working with the management team to pursue strategic growth opportunities to expand Blueknight’s operations.”

Blueknight owns and operates a diversified portfolio of complementary midstream energy assets consisting of approximately 8.1 million barrels of crude oil storage located in Oklahoma and Texas and approximately 6.7 million barrels of which are located at the Cushing Oklahoma Interchange. It also owns and operates about 1,285 miles of crude oil pipeline located primarily in Oklahoma and Texas, about 300 crude oil transportation and oilfield services vehicles deployed in Kansas, Colorado, New Mexico, Oklahoma and Texas and approximately 7.4 million barrels of combined asphalt product and residual fuel oil storage located at 44 terminals in 22 states. Blueknight provides integrated services for companies engaged in the production, distribution and marketing of crude oil, asphalt and other petroleum products. New York-listed Blueknight’s share price was up 21cts or 3.09% to $7, with the 52-week range at $4.95-$9.00