Oil Price Information Service (OPIS)

OPIS, founded in 1977, is an online fuel price aggregator that provides the information needed for commercial contracts and trade settlements. The company is mainly known for its activities in the United States. It provides current and historical data on spot, wholesale/standard and retail fuel prices from petroleum products, renewable fuels, and natural and liquefied gas.

History

2021: News Corp bought OPIS for $1.15 billion

In early August 2021, News Corp announced the acquisition of the American online fuel price aggregator Oil Price Information Service (OPIS) and related assets from S&P Global and IHS Markit for $1.15 billion. The transaction will be paid by the buyers' own funds. By doing so, News Corp will be able to double its database on energy, commodities and renewable energy.

OPIS will be part of the professional information business of Dow Jones, the parent company of the Wall Street Journal, which includes Dow Jones Risk & Compliance, Dow Jones Newswires and Factiva. The Dow Jones division accounts for about a fifth of News Corp.'s total revenue.

News Corp acquired OPIS for $1.15 billion

OPIS was previously owned by IHS Markit. In addition to OPIS News Corp itself, it acquired services specializing in information on the markets for coal, metals, petrochemical products and plastics, as well as the mining industry as a whole.

For IHS Markit, this deal is part of the preparation for a $44 billion merger with S&P Global. In turn, in the case of News Corp, the acquisition of OPIS may indicate the company's desire to expand its portfolio of services aimed at investors. The deal is expected to close in the fourth quarter of 2021, which will be the third takeover of another company conducted by News Corp for the year.^[1]

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