LONDON, May 2, 2019 /PRNewswire/ -- Leading commodity price reporting agency, Argus, has acquired German energy information service provider O.M.R. OIL MARKET REPORT. O.M.R. produces services covering German domestic and international markets for oil products, biofuels and wood pellets. O.M.R. prices are widely used in supply contracts throughout Germany. The company was founded in 1985 by Reinhard Kahnau and is headquartered in Kellinghusen, northern Germany.
"Germany is a key market for Argus and we have had a presence there since 2003. O.M.R., with its 34 year history will complement Argus' global strengths," Argus Media chairman and chief executive Adrian Binks said. "Argus prices are used across Europe for supply contracts, trading and hedging activities and we look forward to working with the O.M.R. team to continue providing reliable services and developing improved offerings for our customers."
O.M.R. managing director Reinhard Kahnau said: "For many years we have been familiar with the high quality of Argus' work producing relevant and reliable benchmark prices. So we are convinced our customers will benefit from the additional value added by O.M.R.'s specific market know-how into Argus' broader oil market coverage. It will be a powerful, independent, combination and our customers will be in very good hands with Argus."
O.M.R. will continue to operate with its team under its own registered name in Kellinghusen. Argus is establishing a new office in Hamburg.
The terms of the O.M.R. acquisition were not disclosed.
About Argus Media
Argus is an independent media organisation with almost 1,000 staff. It is headquartered in London and has 23 offices in the world's principal commodity trading and production centres. Argus produces price assessments and analysis of international energy and other commodity markets, and offers bespoke consulting services and industry-leading conferences.
Companies in 140 countries around the world use Argus data to index physical trade and as benchmarks in financial derivative markets as well as for analysis and planning purposes.
Argus was founded in 1970 and is a privately held UK-registered company. It is owned by employee shareholders and global growth equity firm General Atlantic.
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SOURCE Argus Media