Oil Price Information Service
{{Infobox company
| name = Oil Price Information Service (OPIS)
| logo =
| type = Subsidiary
| parent = {{ubl|IHS Markit {{smaller|(?-2022)}}|News Corp. {{smaller|(2022-present)}}}}
| area_served = Worldwide
| key_people = {{ubl|Brian Crotty {{smaller|(CEO)}}}}
| founders = {{ubl|Tom Kloza|Ben Brockwell}}
| num_employees = 300-350
| subsid =
| homepage = [https://www.opisnet.com/ opisnet.com]
| foundation = {{start date and age|1977|10}}
| location_city = Rockville, Maryland
| location_country = U.S.
}}
Oil Price Information Service (OPIS) is a price reporting agency which provides information that is used for commercial contracts and trade settlement related to petroleum, gasoline, diesel, ethanol, biodiesel, LP-gas, jet fuel, crude, natural gas, petrochemicals, recycled plastics, refinery feedstocks, residual fuel, and kerosene.{{cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=8142599|title=Company Overview of Oil Price Information Service, LLC|website=Bloomberg News |accessdate= March 16, 2017}}{{cite news|url=https://www.reuters.com/legal/transactional/news-corp-bets-big-data-with-12-bln-opis-buy-2021-08-02/|title=News Corp bets big on data with $1.2 bln OPIS buy|website=Reuters |date=2 August 2021 |accessdate= Aug 2, 2021}} It is based in Rockville, Maryland and has offices in New Jersey, Houston, Texas, Minnesota, and internationally in Sweden, Romania, Singapore, and Japan.
On August 2, 2021, it was announced that News Corp, the parent company of Dow Jones & Co., would buy OPIS from IHS Markit for US$1.15 billion.{{Cite news|date=2021-08-02|title=News Corp bets big on data with $1.2 billion OPIS buy|language=en|work=Reuters|url=https://www.reuters.com/article/us-opis-m-a-news-corp-idUSKBN2F316F|access-date=2021-08-02}} When the purchase was finalized on February 28, 2022, the company became a unit of News Corp.{{Cite news|url=https://www.businesswire.com/news/home/20220228005503/en/News-Corp-Completes-Acquisition-of-OPIS4/|title= News Corp Completes Acquisition of OPIS |work=Business Wire|access-date=2022-12-19|language=en-US}}
History
According to the International Organization of Securities Commissions, OPIS is one of the four main price reporting agencies for oil market price reporting including daily market price assessments. The other three are Platts, Argus Media and ICIS.{{cite web|url=https://www.iosco.org/news/pdf/IOSCONEWS365.pdf|
title=IOSCO Requests Public Comment on Continuing Implementation of PRA Principles|publisher=International Organization of Securities Commissions|date=12 February 2015}}
OPIS is regarded as a benchmark in multiple areas such as Propane and NGL (Natural gas liquids). In 2016 it made four new contracts for trading at ICE Futures Europe.{{cite web|url= https://www.oilandgas360.com/four-new-opis-contracts-available-for-trading-at-ice-futures-europe/|title= OPIS Contracts at ICE|work=Oil & Gas 360|date=November 30, 2015}}
Acquisitions
1996 - OPIS acquired the Stalsby/Wilson Directory business and Computer Petroleum Corp. (CPC).
2005 - OPIS acquired Axxis Software.{{cite web|url=https://www.cspdailynews.com/fuels-news-prices-analysis/fuels-news/articles/opis-acquires-axxis-petroleum|title=OPIS Acquires AXXIS Petroleum
|accessdate= March 16, 2017|work=CSP Daily News}}
2012 - OPIS acquired PointLogic Energy (formerly LCI Energy Insight).{{cite web|url=https://www.pointlogicenergy.com/press-releases/2015/2015-02-02-OPIS-Unveils-PointLogic-Energy-Hires-New-Leadership.html|title=OPIS Unveils PointLogic Energy, Hires New Leadership|date=February 2, 2015}}
2013 - OPIS acquired GasBuddy.{{cite web|url=https://www.csnews.com/industry-news-and-trends/technology/opis-acquires-gasbuddy?nopaging=1|title=OPIS Acquires GasBuddy|date=February 28, 2013|work=Convenience Store News}}
2015 – OPIS acquires NAVX, the leading European and South American provider of retail fuel pricing, parking and Electric Vehicle (EV) charging location information.{{cite web|url=http://www.businesswire.com/news/home/20150327005451/en/OPIS-Acquires-NAVX|title=OPIS Acquires NAVX-Creates global platform for aggregating and delivering critical real-time content into the connected car|date=March 27, 2015|work=Business Wire}}
2016 – IHS acquires OPIS for $650 Million.{{cite web|url=https://www.wsj.com/articles/ihs-acquires-opis-for-650-million-1452512380|title=IHS Acquires OPIS for $650 Million|author=Ann Steele|work=The Wall Street Journal|date=January 11, 2016}}
2018 - OPIS acquires Petrochem Wire.{{Cite web|url=https://www.plasticsnews.com/article/20180810/NEWS/180819991/petrochem-wire-acquired-by-ihs-unit-opis|title=PetroChem Wire acquired by IHS unit OPIS|date=2018-08-10|website=Plastics News|language=en|access-date=2019-10-17}}
2022 - News Corp acquires OPIS and merges it with Dow Jones{{Cite web|url=https://www.dowjones.com/press-room/news-corp-completes-acquisition-of-opis|title=News Corp Completes Acquisition of OPIS|date=February 28, 2022|website=Dow Jones|language=en}}
2024 - OPIS acquires A2i Systems{{Cite web|url=https://www.dowjones.com/press-room/dow-jones-acquires-a2i-systems/|title=Dow Jones Acquires A2i Systems|date=July 2, 2024|website=Dow Jones|language=en}}
References
{{Reflist|2}}
{{IHS Markit}}
{{News Corporation}}
{{Authority control}}
Category:Companies based in Gaithersburg, Maryland
Category:American companies established in 1977
Category:2016 mergers and acquisitions