| 1 | We refer to the Facility granted by ABN AMRO Bank N.V. (the Bank) to Aegean Marine Petroleum S.A., Aegean Petroleum International Inc. and Aegean Oil Terminal Corporation (each a Borrower together the Borrowers) as per the facility letter dated 21 June 2011 and its amendment letters dated 15 November 2011 and 27 January 2012 (together the Facility Letter). |
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| 2 | Unless indicated otherwise, the definitions in the Facility Letter and the Bank's Commodity Facility Terms and Conditions apply in this letter (the Amendment Letter). |
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| 3 | The purpose of this Amendment Letter is to extend the Sub Limit 3 Maturity Date and to introduce a new Sub Limit 4. |
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| 4 | With effect from the date of this Amendment Letter, the Facility Letter shall be amended as follows: |
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|   | (a) | in paragraph 1.5 sub paragraph (a) shall be deleted and replaced with the following wording: |
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|   | "(a) | a sub limit of USD 60,000,000 to finance goods stored in Borrowers' own vessels (floating storage) off shore Fujairah (United Arab Emirates) represented by Bills of Lading (B/L's) (Sub Limit purpose) described in more detail in Schedule 1 (Sub Limit 1); |
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|   | (b) | in paragraph 1.5 sub paragraph (c) the Sub Limit 3 Maturity Date of 15 May 2012 is extended by one month until 15 June 2012 and the maximum term for Utilisations of 180 days is extended to 210 days; |
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|   | (c) | in paragraph 1.5 a new sub paragraph (d) is inserted after sub paragraph (c) with the following wording: |
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|   | "(d) | a sub limit of USD 20,0000 to finance Borrowers' receivables of goods financed by the Bank that are sold and delivered but not yet invoiced (Sub Limit purpose) for a maximum tenor of 7 days, described in more detail in Schedule 1 (Sub Limit 4); "; |
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|   | (d) | in paragraph 2.2 ( Security Documents) the wording of sub paragraph (e) shall be deleted and replaced by "[intentionally left blank]"; |
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|   | (e) | in paragraph 3 (Financial Covenants) sub paragraph 3.3 shall be deleted and replaced with the following wording: |
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|   | "3.3 | Each Borrower shall ensure that at all times the current ratio of the Group is not less than 1.10 until 31 March 2013 and not less than 1.15 from 31 March 2013 onwards, where the Group's current ratio is the total of its current assets (less loans it has made to shareholders, directors or related companies) divided by its current liabilities."; and |
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|   | (f) | Schedule 1 to the Facility Letter shall be replaced by the attached Schedule 1; |
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| 5 | This Amendment Letter is designated a Finance Document for the purposes of the Facility Letter and is also subject to the Bank's Commodity Facility Terms and Conditions and General |
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| Initials: | Borrower(s) | Bank |
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|   | Conditions. Both the Commodity Facility Terms and Conditions and the General Conditions of the Bank, have been provided to the Borrowers, and the Borrowers confirm to have taken notice of and accept the contents of the Commodity Facility Terms and Conditions and the General Conditions. |
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| 6 | The Bank will not make the Facility as amended by this Amendment Letter available until the Bank has received all of the documents, payments and other evidence specified below in a form and substance satisfactory to the Bank: |
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|   | (a) | this Amendment Letter, duly signed as accepted by all Obligors; |
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|   | (b) | certified copies of the directors and shareholders' resolutions (if required) of each Obligor authorising it to enter into the Finance Documents; and |
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|   | (c) | payment of a one-off USD 50,000 extension fee in respect of Sub Limit 3. |
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| 7 | The parties confirm that, as amended by this Amendment Letter, the Facility Letter remains in full force and effect. |
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| 8 | We kindly ask you to confirm your agreement to the terms and conditions of this Amendment Letter by signing the acceptance on the enclosed duplicate of this letter and procuring that the Guarantor does the same. |
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| 9 | This offer will expire if the Bank does not receive your signed acceptance of this Amendment Letter, initialled on each page and duly signed, within 10 days from the date of this letter. |
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| Executed by Aegean Marine Petroleum S.A.acting by:        | /s/ S. GIANNIOTIS   |
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|                                                      | Name: S. GIANNIOTIS |
|                                                      | Title: CFO          |
|                                                      | Date:               |
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| Executed by Aegean Petroleum International Inc.acting by: | /s/ S. GIANNIOTIS   |
|                                                      | Name: S. GIANNIOTIS |
|                                                      | Title: CFO          |
|                                                      | Date:               |
|                                                      |                |
|                                                      |                |
|                                                      |                |
| Executed by Aegean Oil Terminal Corporationacting by:     | /s/ S. GIANNIOTIS   |
|                                                      | Name: S. GIANNIOTIS |
|                                                      | Title: CFO          |
|                                                      | Date:               |

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| Initials: | Borrower(s) | Bank |
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| Executed by Aegean Marine Petroleum Network Inc.acting by: | /s/ S. GIANNIOTIS   |
|------------------------------------------------------------|---------------------|
|                                                       | Name: S. GIANNIOTIS |
|                                                       | Title: CFO          |
|                                                       | Date:               |

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| Initials: | Borrower(s) | Bank |
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| Collateral                                                                                                                                                                                                                                                                                     | Determinationof Value | CollateralValue* | Limit        | Max.Financing Tenor             |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------|------------------|--------------|---------------------------------|
| Goods in transit, paid for, represented by a full set of original B/L's issued to order of the Bank or in negotiable form (to be) received under import (SB)L/C's **                                                                                                                           | Market value          | 75%              | Sub Limit 2  | 15 days fromL/C issuancedate    |
| Goods in floating storage, pledged to the Bank and either (i) paid for and represented by B/L's in the possession of the Bank, or (ii) represented by B/L's (to be) received under import L/C's (no-commingling of stock, stock report from independent inspector upon request of the Bank) ** | Market value          | 75%              | Sub Limit 1  | 30 days fromdate oftranshipment |
| Receivables of sold and delivered goods that are not yet invoiced, assigned to the Bank, domiciling payment to the Borrower's account held with the Bank***                                                                                                                                    | Sales value****       | 80%              | Sub Limit 4  | 7 days fromdelivery date        |
| Receivables, assigned to the Bank, domiciling payment to the Borrower's account held with the Bank***                                                                                                                                                                                          | Sales invoicevalue    | 90%              | OverallLimit | 45 days fromdelivery date       |
| Cash deposits: charged to the Bank or held in an account in the Bank's name                                                                                                                                                                                                                    | Amount of thedeposit  | 100%             | OverallLimit | n.a.                            |

|   | * | Expressed as a percentage of the Value of the relevant Collateral. |
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|   | ** | Charter party B/L's showing a clause which permits delivery of the goods without the handing over of an original B/L will not act as collateral to the Bank. Goods will only be released after written approval of the Bank. |
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|   | *** | Payments of receivables to the Bank are to be made without offset or counterclaim. The Borrowers undertake to ensure that payment under each invoice is to be made without offset or counterclaim to Borrowers' account with the Bank. Receivables that do not comply with the foregoing or are unpaid 30 days after the due date will not be assigned a Collateral Value. |
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|   | **** | As set out in the Collateral Report |
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| Commissionand Fees | Documentary fees:                                                                                                                                                                                                                                                                                                                                        |
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|               | -                                                                                                                                                                                                                                                                                                                                              | An all-in fee of 1.75‰ over the maximum of the L/C amount will be payable per quarter or part thereof. |
|               |                                                                                                                                                                                                                                                                                                                                                     |
|               |  -                                                                                                                                                                                                                                                                                                                                        | An all-in fee of 2‰ over the maximum of the SBL/C amount will be payable per quarter or part thereof. |
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|               | An all-in fee of 1.25‰ over open account payment will be payable flat.                                                                                                                                                                                                                                                                             |
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|               | Arrangement fee:  USD 250,000 flat per annum, payable by the Borrowers upon first signature of the Facility Letter and subsequently on an annual basis.                                                                                                                                                                                             |
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|               | Expenses and costs:  fees and expenses (including, but not limited to legal fees and out-of-pocket expenses) incurred by the Bank in preparing, perfecting and maintaining the Facility, the Security Documents and the Collateral or in connection with enforcing its Security Interests are to be borne by the Borrowers and payable upon demand. |
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|               | All such fees and commissions for may be charged to Borrowers' accounts held                                                                                                                                                                                                                                                                             |

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| Initials: | Borrower(s) | Bank |
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|          | with the Bank.                                                                  |
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| Interest Rate | For Overdrafts and Advances: Cost of Funds + Margin of 2.40% per cent per annum |

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| Initials: | Borrower(s) | Bank |
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