S&P Global Platts

S&P Global Platts
Formerly
 Platts
Division[1]
Industry Energy, Commodities, Oil & Gas, Petrochemicals, Metals, Agriculture
Founded Cleveland, Ohio, US (1909 (1909))
Founder Warren C. Platt
Headquarters London, The United Kingdom[2]
Key people
 Martin Fraenkel – president[3]
Services Commodities & Energy Information and Analytics
Number of employees
 Approx. 1,000
Parent S&P Global, Inc.
Website https://www.spglobal.com/platts/en

S&P Global Platts is a provider of energy and commodities information and a source of benchmark price assessments in the physical energy markets. The business was started with the foundation in 1909 of the magazine National Petroleum News by Warren C. Platt.[4]

S&P Global Platts and Argus Media are recognized as the two most significant price reporting agencies for the oil market.[5]

Overview

From an original focus on the oil industry, S&P Global Platts gradually expanded its purview to include metals, shipping, and all energy-related markets – oil, coal, natural gas, electricity, nuclear power, petrochemicals, renewables, and emissions. S&P Global Platts is a division of S&P Global, Inc., (NYSE: SPGI), a provider of ratings, benchmarks and analytics to the global capital and commodity markets. The firm is sister to brands like S&P Global Ratings, S&P Global Market Intelligence and S&P Dow Jones Indices. It had been part of the Commodities & Commercial group of S&P Global, but that group saw all its assets, besides Platts, slowly sold off. It is now considered a stand-alone division of S&P Global, though its President Martin Fraenkel reports into Mike Chinn, the head of S&P Global's Market Intelligence group. [6]

History

Warren C. Platt (1883–1963) started the magazine National Petroleum News in Cleveland, Ohio in 1909. He expanded the business with the publication of the newsletter called Platts Oilgram in 1923, which went on to be recognized as an influential source for petroleum prices. The companies founded by Platt that published prices and news were acquired in 1953 to become part of what was then known as McGraw-Hill group, which was later to become S&P Global. The publication activities that started with petroleum later expanded to cover energy and commodities, which were all undertaken by the division that became known as Platts.[7]

In 2000 McGraw-Hill merged Platts with other like assets to turn the company into a provider of energy information.[4]

Beginning in 2010, Platts' parent has made numerous acquisitions to significantly grow the Platts business. The acquired companies were Bentek[8], Eclipse Energy [9], Kingsman [10], Minerals Value Service [11], RigData [12] and PIRA [13]. An attempt to acquire OPIS in 2011 failed following market objections and Federal Trade Commission resistance. [14]

Platts' first significant acquisition came in 2001, when it acquired FT Energy. [15] That acquisition gave it the Platts Global Energy Awards, considered one of the industry's biggest awards event, held every December in New York. [16]

Since 2013, the company has held an annual Platts Global Metals Awards, modeled on the Platts Global Energy Awards. In 2015, these were held in London.[17]

See also

References

  1. ↑ "About us". Platts.
  2. ↑ "Office locations and contact details". Platts.
  3. ↑ "Leadership team". Platts.
  4. 1 2 "Platts History". S&P Global. Retrieved February 22, 2010.
  5. ↑ "Oil Price Reporting Agencies: Report by IEA, IEF, OPEC and IOSCO to G20 Finance Ministers" (PDF). Jointly published by International Energy Agency, International Energy Forum, OPEC and International Organization of Securities Commissions. October 2011. p. 3.
  6. ↑ http://www.prnewswire.com/news-releases/martin-fraenkel-named-president-of-sp-global-platts-300336487.html
  7. ↑ "Platts – An Historical Perspective" (PDF). S&P Global. May 2009. Retrieved November 21, 2016.
  8. ↑ https://www.platts.com/pressreleases/2010/121410
  9. ↑ https://www.platts.com/pressreleases/2014/071714
  10. ↑ https://www.platts.com/pressreleases/2012/101112
  11. ↑ https://www.platts.com/pressreleases/2015/030315
  12. ↑ https://www.platts.com/pressreleases/2016/060216
  13. ↑ https://www.platts.com/pressreleases/2016/080416
  14. ↑ https://www.highbeam.com/doc/1G1-250826976.html
  15. ↑ https://books.google.com/books?id=wUIwDwAAQBAJ&pg=PT56&lpg=PT56&dq=platts+to+acquire+FT+energy&source=bl&ots=mahEUGiibI&sig=QHuj-8HjFOj0joXf4Ltt7yCxQ1Q&hl=en&sa=X&ved=0ahUKEwjM7NqbmsbWAhVIsFQKHRknC4YQ6AEIMzAD#v=onepage&q=platts%20to%20acquire%20FT%20energy&f=false
  16. ↑ https://geaweb.platts.com/
  17. ↑ "Platts Global Metal Awards". Retrieved April 29, 2015.


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