News Corp to Buy Oil Price Information Service

In the US, media and information services company News Corp is to buy the Oil Price Information Service (OPIS) and related assets from S&P Global and IHS Markit for $1.15 billion in cash.

Founded in 1977, OPIS is a global industry standard for benchmark and reference pricing and news and analytics for the oil, natural gas liquids and biofuels industries, and a provider of insights and analytics in renewables and carbon pricing. The firm is headquartered in Rockville, Maryland, and also has offices in Mexico, the UK, France, Romania and Singapore, and employs approximately 400 professionals globally.

As part of the deal, OPIS will become part of New Corp's publishing firm Dow Jones' Professional Information Business (PIB). The acquisition is subject to customary closing conditions, including regulatory approvals and the completion of the S&P Global and IHS Markit merger, expected in quarter four.

Almar Latour (pictured), CEO of Dow Jones, comments: 'Dow Jones and OPIS together can be a leading provider of energy and renewable information, combining trusted news, data, analytics, events and an interconnected professional community. OPIS's expertise in commodities, energy and renewables aligns with Dow Jones' focus on building deeper specialization in specific verticals around valuable content'.

Web sites: www.newscorp.com, www.dowjones.com and www.opisnet.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.