Aegean Marine Petroleum Network Inc. Announces Share Repurchase Program

PIRAEUS, Greece, July 20, 2011 /PRNewswire via COMTEX/

Aegean Marine Petroleum Network Inc. (NYSE: ANW) today announced that its Board of Directors has approved a share repurchase program for up to 2,000,000 shares of the Company's common stock. The Board will review and may choose to renew the program after a period of 12 months. Share repurchases will be made from time to time for cash in open market transactions at prevailing market prices or in privately negotiated transactions. The timing and amount of purchases under the program will be determined by the Board's special committee and management based upon market conditions and other factors.

E. Nikolas Tavlarios, President, commented, "The adoption of a share repurchase program demonstrates the strong confidence our Board and management team have in Aegean and its fundamentals. With a strong balance sheet, we remain well positioned to further expand Aegean's global marine fuel platform while repurchasing shares at attractive prices for the benefit of the Company and its shareholders."

The program does not require the Company to purchase any specific number or amount of shares and may be suspended or reinstated at any time in the Company's discretion and without notice. Purchases will be subject, among other things, to Aegean's insider trading policies.

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 19 markets, including Vancouver, Montreal, Mexico, Jamaica, Trinidad and Tobago, West Africa, Gibraltar, U.K., Northern Europe, Piraeus, Patras, the United Arab Emirates, Singapore, Morocco, the Antwerp-Rotterdam-Amsterdam (ARA) region, Las Palmas, Tenerife, Cape Verde and Panama.

Source: Aegean Marine Petroleum Network Inc.