UPDATE 2-Dealmaking heats up for oil pricing agencies as IHS buys OPIS

(Adds Argus Media potential sale, PRA regulation)
Jan 11 (Reuters) - Information provider IHS Inc IHS.N has
agreed to buy U.S. oil pricing agency OPIS as deal making in the
oil pricing industry heats up after regulators' scrutiny cools.
IHS, which provides information and analytics to customers
from airspace and shipping to government security, will pay $650
million for U.S.-based Oil Price Information Service (OPIS) to
add real-time pricing information to its energy analytics
business.
Price reporting agencies have come under increased scrutiny
since the European Union proposed tougher new rules regulating
their activity in 2013. [http://uk.reuters.com/article/uk-eu-libor-oil-idUKBRE95518520130606
]
The scrutiny peaked when EU officials raided the offices of
Platts', the world's biggest price reporting agency, and trading
offices of BP BP.L and Shell RDSa.L and Statoil STL.OL in
2013.
But last December, the European Commission had dropped its
investigation into BP, Shell, Statoil and Platts, part of McGraw
Hill Financial Inc MHFI,N .
The global securities watchdog IOSCO decided last year that
price reporting agencies were adhering to industry guidelines
and said further annual reviews were not necessary.
In November 2015, another pricing agency, London-based Argus
Media, the second largest of the PRAs after Platts, said it had
appointed Bank of America Merrill Lynch (N:BAC) to "review strategic
options for the next phase of its development."
Argus said it has been approached by a number of prospective
investors including "trade buyers and private equity funds".
The acquisition of OPIS will become IHS's second in less
than a month. The company agreed in December to buy Canada-based
vehicle data provider Carproof Corp for $460 million to boost
its automotive research business.
OPIS, a price reporting agency which provides information
used for commercial contracts and to settle trades, has presence
in 30 countries, IHS said. OPIS is mainly known for its
activities in the United States.
OPIS provides real-time and historical spot, wholesale/rack
and retail fuel prices for refined products, renewable fuels,
and natural gas and gas liquids industries.
The acquisition "gives IHS visibility across the entire
petroleum value chain, from wellhead to consumer," Chief
Executive Jerre Stead said on Monday.
IHS abandoned its buyout of software maker Solera Holdings
Inc SLH.N in September.
Thomson Reuters TRI.TO , parent of Reuters news, competes
with Platts, Argus and OPIS in providing news and information to
the oil markets.