Vitol, Inc. Enters into Agreement to Purchase the General Partner of SemGroup Energy Partners, L.P.

GENEVA - Vitol Inc., part of the Vitol Group of companies (”Vitol”), today entered into an agreement with Manchester Securities Corp., an affiliate of Elliott Management Corporation, to purchase a 100% interest in SemGroup Energy Partners G.P., L.L.C., the general partner of SemGroup Energy Partners, L.P. (”SGLP”) and 12.6 million subordinated units in SGLP. Financial terms of the transaction were not disclosed and consummation of the purchase is subject to customary conditions and approvals.

The assets of SGLP include a crude oil storage terminal in Cushing, Oklahoma and associated pipeline facilities, other pipeline and gathering systems in Texas, Oklahoma, and Kansas, along with 46 asphalt terminal facilities located across 23 states in the U.S.

Commenting on the acquisition, Mike Loya, CEO of Vitol Inc, remarked:

“We are pleased to have reached agreement for the acquisition of SemGroup Energy Partners G.P. Pending SGLP’s resolution of various outstanding legal matters, this acquisition will make an important addition to our expanding business in the USA, the world’s largest energy market.”

Founded in 1966, the Vitol Group is a global leader in the supply, marketing and distribution of crude oil and petroleum products, along with coal, LNG, natural gas, and other commodities. Vitol is one of the world’s largest charterers of ocean going vessels and is a strategic market maker in the emerging global carbon emissions trading. Vitol, a private company owned by its management and key commercial and administrative employees, is headquartered in the Netherlands, with principal offices in Rotterdam, Geneva, London, Houston, Singapore and Moscow. On average Vitol moves more than 5 million barrels of crude oil and petroleum products every day and charters more than 3000 ships annually. Its storage and terminals business consists of more than 30 million barrels of petroleum storage in Amsterdam, Rotterdam, Fujairah (UAE), and other strategic locations.

J.P.Morgan Securities Inc. acted as financial advisor and Vinson & Elkins L.L.P. served as legal counsel for Vitol with respect to the transaction.

Further details on the Vitol Group can be found on www.Vitol.com

For further information:

Qorvis, Washington DC: Don Goldberg, +1-202-496-1000

Finsbury, London: Andrew Mitchell, +44-207-251-3801

More details on the Vitol group can be found on www.vitol.com

Source: Vitol

For further information: Qorvis, Washington DC: Don Goldberg +1-202-496-1000; Finsbury, London: Andrew Mitchell +44-207-251-3801