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 Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crud ...

gasoline Gasoline (; ) or petrol (; ) (see ) is a transparent, petroleum-derived flammable liquid that is used primarily as a fuel in most spark-ignited internal combustion engines (also known as petrol engines). It consists mostly of organic co ...

diesel Diesel may refer to: * Diesel engine, an internal combustion engine where ignition is caused by compression * Diesel fuel, a liquid fuel used in diesel engines * Diesel locomotive, a railway locomotive in which the prime mover is a diesel engin ...

ethanol Ethanol (abbr. EtOH; also called ethyl alcohol, grain alcohol, drinking alcohol, or simply alcohol) is an organic compound. It is an Alcohol (chemistry), alcohol with the chemical formula . Its formula can be also written as or (an ethyl ...

biodiesel Biodiesel is a form of diesel fuel derived from plants or animals and consisting of long-chain fatty acid esters. It is typically made by chemically reacting lipids such as animal fat (tallow), soybean oil, or some other vegetable oil with ...

, LP-gas,

jet fuel Jet fuel or aviation turbine fuel (ATF, also abbreviated avtur) is a type of aviation fuel designed for use in aircraft powered by gas-turbine engines. It is colorless to straw-colored in appearance. The most commonly used fuels for commercial a ...

, crude, natural gas,

petrochemicals Petrochemicals (sometimes abbreviated as petchems) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable sou ...

, recycled plastics, refinery feedstocks,

residual fuel Fuel oil is any of various fractions obtained from the distillation of petroleum (crude oil). Such oils include distillates (the lighter fractions) and residues (the heavier fractions). Fuel oils include heavy fuel oil, marine fuel oil (MFO), bun ...

, and

kerosene Kerosene, paraffin, or lamp oil is a combustible hydrocarbon liquid which is derived from petroleum. It is widely used as a fuel in aviation as well as households. Its name derives from el, κηρός (''keros'') meaning "wax", and was regi ...

. It is based in

Rockville, Maryland Rockville is a city that serves as the county seat of Montgomery County, Maryland, and is part of the Baltimore–Washington metropolitan area. The 2020 census tabulated Rockville's population at 67,117, making it the fifth-largest community in ...

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 News Corporation, stylized as News Corp, is an American mass media and publishing company headquartered in Midtown Manhattan, New York City. The second incarnation of the News Corporation (1980–2013), original News Corporation, it was formed ...

, parent company of Dow Jones & Co., would buy OPIS from

IHS Markit IHS Markit Ltd was an information services provider that completed a merger with S&P Global in 2022. Headquartered in London, it was formed in 2016 with the merger of IHS Inc. and Markit Ltd. History IHS Information Handling Services (IHS) "was ...

for US$1.15 billion. When the purchase was finalized on February 28, 2022, the company became a unit of News Corp.

History

OPIS is one of the four main Price Reporting Agencies (PRAs) for market price reporting including daily market price assessments that are "fair, efficient, and transparent" in addition to Platts, Argus Media and ICIS according to the International Organization of Securities Commissions. OPIS is a benchmark in multiple areas including Propane, and NGL. In 2016 it made available four new contracts for trading at ICE Futures Europe.

Acquisitions

1996 - OPIS acquired the Stalsby/Wilson Directory business and Computer Petroleum Corp. (CPC).
2005 - OPIS acquired Axxis Software.
2012 - OPIS acquired PointLogic Energy (formerly LCI Energy Insight).
2013 - OPIS acquired GasBuddy.
2015 – OPIS acquires NAVX, the leading European and South American provider of retail fuel pricing, parking and Electric Vehicle (EV) charging location information.
2016 – IHS Markit acquires OPIS for $650 Million.
2018 - OPIS acquires Petrochem Wire.

References

{{Authority control Companies based in Gaithersburg, Maryland American companies established in 1977 2016 mergers and acquisitions 2022 mergers and acquisitions Dow Jones & Company