• by Tony Silber , Staff Writer, March 1, 2022

News Corp., expanding its array of professional-information products, announced on Monday that it had completed the acquisition of the Oil Price Information Service (OPIS) and related assets from S&P Global and HIS Markit. The $1.1 billion cash transaction was first announced last summer.

News Corp. also has a pending acquisition of Base Chemicals, also from S&P Global and IHS Markit. That acquisition is expected to close in the coming months.

OPIS, founded in 1977, is a growing digital data, analytics and insights provider. It joins Dow Jones’ professional-information business, expanding that company’s presence in the energy, commodities and renewables markets. Dow Jones' information services include Factiva, Dow Jones Newswires, and Dow Jones Risk & Compliance.

OPIS is viewed as a global industry standard for benchmark and reference pricing and news and analytics for the oil, natural gas liquids and biofuels industries, as well as a provider of insights and analytics in renewables and carbon pricing.

News Corp. CEO Robert Thomson said, “The OPIS acquisition will significantly enhance our ability to provide high-quality, high-margin professional products in the energy sector, including renewables and carbon benchmarking, for which there is urgent demand from serious companies,”

Brian Crotty, general manager of OPIS, said, “Dow Jones has a reputation for being a source of truth for business news and information, delivering compelling editorial analysis that is backed by data. By joining forces, and bringing together our complementary methodologies, we further enhance our ability to deliver a premium product for our customers.”