Market Overview

Aegean Marine Petroleum Network Inc. Achieves Significant Milestones in Restructuring Progress


Court Approves Final Debtor-in-Possession Motion, Restructuring
Support Agreement with Mercuria and Unsecured Creditors

Company Files Plan of Reorganization and Disclosure Statement

Aegean Marine Petroleum Network Inc. (NYSE:ANW) ("Aegean" or the
"Company") announced that the U.S. Bankruptcy Court for the Southern
District of New York (the "Court") has approved its revised final motion
related to $535 million in aggregate Debtor-in-Possession financing (the
"DIP Facility") from Mercuria Energy Group Limited ("Mercuria"), one of
the world's largest independent energy and commodity companies. The
Court also approved the Company's Restructuring Support Agreement (the
"RSA") with Mercuria, the Official Committee of Unsecured Creditors of
Aegean, American Express Travel Related Services Company, Inc., and
certain holders of the Company's unsecured convertible notes. In
addition, the Company filed its plan of reorganization and disclosure
statement, critical steps toward exiting bankruptcy.

"The Court's actions represent key milestones in Aegean's restructuring
process and position the Company to quickly emerge from Chapter 11 much
stronger than before. Both the DIP and the RSA result from a deliberate,
arm's-length process involving world-class institutions, undertaken to
ensure continued high-quality service across our global network,
maximize creditor recoveries and avoid months of contentious,
value-destroying litigation," said Tyler Baron, Aegean Board Director.
"Upon completion of this process, currently anticipated around the end
of the first quarter, the new company – with ample access to liquidity,
streamlined operations, a refreshed management team, and the ability to
leverage Mercuria's core competencies – will be better positioned for
long-term growth than ever."

Under the terms of the Court-approved RSA, Mercuria will receive 100% of
the common equity of the reorganized Company. Mercuria will also fund
$40 million in cash on account of general unsecured creditor recoveries
at the Company and backstop a $15 million loan to a trust to fund
litigation (the "Litigation Loan Trust").

General unsecured creditors at the parent will receive 100% of the
initial proceeds from litigation claims (after repayment of the
Litigation Trust Loan plus $3 million), until they receive payment in
full on account of their allowed claims. General unsecured creditors at
the subsidiaries will receive full recoveries in the normal course,
under the agreement. Holders of the Company's pre-prepetition common
equity will receive 100% of the residual interests in the litigation
claims once general unsecured creditors at the parent have received
payment in full. Pursuant to reasonable and achievable milestones, the
Company will implement its restructuring plan, and expects to emerge
from Chapter 11 around the end of the first quarter of 2019.

In connection with the Company's restructuring efforts, Kirkland & Ellis
LLP is acting as legal counsel to Aegean, Moelis & Company LLC is acting
as investment banker to Aegean, and EY Turnaround Management Services
LLC is acting as restructuring advisor to Aegean.

Additional Information

Additional information about the Chapter 11 cases, court filings and
other documents related to the Chapter 11 cases are available on a
website administered by the debtors' claims and noticing agent, Epiq
Corporate Restructuring, LLC, at

About Aegean Marine Petroleum Network Inc.

Aegean Marine Petroleum Network Inc. is an international marine fuel
logistics company that markets and physically supplies refined marine
fuel and lubricants to ships in port and at sea. The Company procures
product from various sources (such as refineries, oil producers, and
traders) and resells it to a diverse group of customers across all major
commercial shipping sectors and leading cruise lines. Currently, Aegean
has a global presence in more than 30 markets and a team of
professionals ready to serve its customers wherever they are around the
globe. For additional information please visit:

Cautionary Statement Regarding Forward-Looking Statements

This release contains "forward-looking" statements that are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Statements that are predictive in nature,
that depend upon or refer to future events or conditions, or that
include words such as "expects," "anticipates," "intends," "plans,"
"believes," "estimates," "will," and similar expressions are
forward-looking statements. These forward-looking statements relate, in
part, to the risks and uncertainties relating to the ability of the
Company to continue as a going concern; the debtors' ability to obtain
approval by the bankruptcy court of the relief requested in the first
day motions, for DIP financing, any sale, and any plan of reorganization
of the Company, among other things; the ability of the debtors to
develop and consummate one or more plans of reorganization with respect
to the Chapter 11 cases; the bankruptcy court's rulings in the Chapter
11 cases and the outcome of the Chapter 11 cases in general; the length
of time the debtors will operate under the Chapter 11 cases; risks
associated with third-party motions in the Chapter 11 cases; the
potential adverse effects of the Chapter 11 cases on the debtors'
liquidity, results of operations or business prospects; the ability to
execute the Company's business and restructuring plan; increased legal
costs related to the Chapter 11 cases and other litigation; the inherent
risks involved in a bankruptcy process; and the other risks and
uncertainties disclosed in the Company's filings with the SEC. Given the
risks and uncertainties inherent in forward-looking statements, you are
cautioned not to place undue reliance on such forward-looking
statements. Forward-looking statements speak only as of the date on
which the statements are made. Aegean undertakes no duty, and expressly
disclaims any obligation, to update these forward-looking statements to
reflect any future events, developments or otherwise.

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