Jan Nasmyth founds Argus
Jan Nasmyth founds Argus, which was initially known as Europ-Oil Prices Ltd, in 1970. After his distinguished war service in the British Army, Jan worked in the energy industry and later concluded that oil markets and prices were inadequately understood. In June 1970 he launched Europ-Oil Prices, a weekly newsletter covering the European Amsterdam, Rotterdam and Antwerp (ARA) products markets.
The name "Argus" is first used in the pricing section of Europ-Oil Prices.
Argus became the first company to publish a daily report on the emerging spot crude oil markets. The original daily publication was called the Argus Telex, and it provided trusted coverage of the spot market for European crude and petroleum products markets.
Adrian Binks becomes a partner by investing in Europ-Oil Prices Ltd, and is appointed Managing Director.
The original Argus Telex is divided into two separate reports - Argus Crude and Argus European Products.
1985 accomplishmentsArgus opens new offices in Houston and Singapore, and Europ-Oil Prices is renamed Weekly Petroleum Argus.
Argus begins international coverage of the products markets by launching the daily Argus Asia-Pacific Products and Argus US Products market reports.
1987 accomplishmentsThe partnership is dissolved and the company is incorporated as Petroleum Argus Ltd.
1990 accomplishmentsJan Nasmyth retires during the Gulf War, but continues to write occasional editorials for Weekly Petroleum Argus.
Adrian Binks becomes Publisher.
1993 accomplishmentsThe Argus International LPG report is launched, filling an important need in daily market information for liquefied petroleum gas (LPG). The report quickly becomes the authority for a number of key benchmark prices that are used as references in spot and term physical as well as derivative contracts.
1994 accomplishmentsArgus opens an office in Moscow. Today this office has more than 100 staff, with subsidiary offices in Astana, Riga and Kyiv. Argus is the largest price reporting agency in the CIS.
Argus launches its first initiative outside the oil market with the publication of the Argus European Natural Gas report. In the same year, Argus launches its first Russian language report on oil markets in the CIS.
1997 accomplishmentsWeekly Petroleum Argus is split between its markets section, renamed Argus Global Markets, and its traditional oil newsletter, Petroleum Argus.
Argus launches a suite of other newsletters including Argus Gas Connections, Argus Fundamentals, Argus LPG World and Argus FSU Energy (now known as Argus Eurasia Energy). These business intelligence reports focus on prices, opinion, analysis, news and fundamentals data.
1998 accomplishmentsArgus Latin Markets and the Argus Asphalt Report are launched along with the biweekly Argus LatAm Energy.
1999 accomplishmentsArgus begins coverage of the electricity sector with the launch of the daily Argus European Electricity report to meet demand for high-quality information on Europe's deregulating power markets.
2000 accomplishmentsArgus acquires the assets of Fieldston Publications and Target Research, including titles covering the coal, emissions and rail industries as well as specialised Latin American energy reports.
Argus is accredited as an Investor in People for the first time, a prestigious UK award for excellence in training and developing staff. This accreditation is renewed regularly until the current day.
The Washington, DC, office opens.
2001 accomplishmentsSeveral new price reports are launched, including Argus NGL Americas, Energy Argus Petroleum Coke and Argus Coal Daily International.
New analytical business intelligence reports include Argus Nefte Transport - a Russian language monthly covering FSU oil transportation.
2002 accomplishmentsAn English language version of Argus Nefte Transport, covering petroleum transport in the former Soviet Union, and Argus Global Emissions, a monthly report on greenhouse gas emissions trading, are launched.
Argus wins the Queen's Award for Enterprise in the UK for the first time, an accolade reflecting achievement in export markets.
2003 accomplishmentsThe Argus/McCloskey's Coal Price Index report is launched. This joint venture between Argus and IHS McCloskey is the source of the API 2, API 4 and other benchmarks, which are the price reference for 80pc of the world's internationally traded coal derivatives.
2004 accomplishmentsArgus launches its first Mandarin language report covering Chinese fuel oil prices, and opens an office in Beijing.
2005 accomplishmentsThe Argus European Emissions Markets report is launched to coincide with the start of the EU emissions trading scheme.
Argus Global LNG, a monthly publication focusing on the international market for liquefied natural gas (LNG), is launched at the beginning of the year.
Argus opens its Japan office in Tokyo.
2006 accomplishmentsA host of new market reports are launched, including Argus Freight, the Argus/Coalindo Indonesian Coal Index Report, Argus Рынок нефти России (Argus Russian Domestic Crude Market) and Argus Российский мазут (Argus Russian Fuel Oil).
2007 accomplishmentsArgus China Petroleum, a monthly publication focusing on the world's fastest growing energy consumer, is launched. Argus opens a bureau in Astana, Kazakhstan.
Jan Nasmyth passes awayJan Nasmyth dies aged 90. Adrian Binks becomes Executive Chairman, remaining as CEO.
Argus launches many new reports covering different aspects of energy and emissions markets. These include Argus Biofuels, Argus US Carbon, Argus Jet Fuel and Argus US Ethanol. A new Argus office opens in New York.
2009 accomplishmentsNew launches include Argus Natural Gas Americas, Argus Biomass Markets and Argus Топливо и энергетика (Argus Russian Generation Fuels and Power). Argus acquires Economic Insight Publications.
Saudi Aramco announces that it will switch to the Argus Sour Crude Index™ (ASCI™) benchmark for pricing exports to the US. The Belgian economic affairs ministry switches to Argus prices in its formula to set the maximum values that can be charged for petroleum products and LPG within Belgium.
Argus wins the Queen's Award for Enterprise in the UK for the second time.
Argus opens offices in Calgary, Dubai and Kiev, Ukraine.
2010 accomplishmentsKuwait and Iraq switch to the Argus Sour Crude Index™ (ASCI™) benchmark to price crude exports to the US.
New launches include Argus Base Oils, Argus US Electricity and Argus Моторное топливо Украины (Argus Ukrainian Motor Fuels).
Argus Editor-in-Chief Ian Bourne is honoured by the International Association of Energy Economists, which award him their prestigious journalism award.
2011 accomplishmentsArgus acquires FMB Consultants Ltd (FMB), a provider of price reporting and market intelligence to the fertilizer and chemical industries.
New energy reports include Argus LNG Daily and Argus Mideast Gulf and Indian Ocean Products.
2012 accomplishmentsNew acquisitions include petrochemical specialists DeWitt and European power and gas fundamental data provider Fundalytics.
Argus launches new reports, including Argus Sulphuric Acid and Argus North American Fertilizer.
New services include coverage of coking coal markets, US power and gas forward curves and a North American petroleum transportation report. Together with IHS McCloskey, Argus introduces additional indexes for coal exports from Australia delivered to China.
The International Energy Agency (IEA) switches to Argus as its data provider for oil markets. The IEA uses Argus for its crude, petroleum products, LPG and freight information, including in its influential monthly Oil Market Report (OMR).
Chile's National Energy Commission (CNE) also switches to Argus for energy price information.
Argus opens an office in Rio de Janeiro.
2013 accomplishmentsArgus buys TABrewer Consulting and Jim Jordan & Associates, both petrochemical market experts.
Argus Steel Feedstocks is launched - Argus' first metals report. Other launches include Argus Marine Fuels and a new API 10 index for Colombian coal, published with partner IHS McCloskey.
The Argus Direct customer platform is launched. The service provides online, mobile and email access to prices, historical and fundamental data, news, analysis and charts. It includes the Argus Direct Alerts tool, which allows customers to set up instant notifications for key prices and market developments.
Argus MTBE and High-Octane Components is launched in the Russian language. The weekly report covers markets for MTBE, TAME and MMA in Russia and the CIS, as well as key international prices.
Argus is the first price reporting agency to complete and publish an independent review of oil price assessments that are used by the industry as benchmarks. The review is conducted by professional services firm PwC and is required annually by international regulators under the IOSCO Principles for Oil Price Reporting Agencies.
2014 accomplishmentsChile's state-owned oil company Enap switches to Argus as its data provider for oil products prices. Enap is a key leader of the energy sector in Latin America, meeting nearly 65pc of Chile's total oil products demand and producing roughly one-third of the country's energy supply.
Argus successfully completes an independent assurance review of our non-oil benchmarks, as encouraged by IOSCO.
Argus acquires Metal-Pages, a specialist pricing, news and analysis service focusing on speciality metals, rare earths and ferro-alloys. The acquisition greatly increases the range of Argus' information available to the metals sector.
Argus opens an office in Shanghai.
2015 accomplishmentsArgus purchases Metal-Prices.com, further extending metals coverage.
Argus completes the fourth assurance review of its benchmarks and extends the scope to include petrochemicals and fertilizers for the first time.
Argus opens an office in Riga, Latvia.
Argus wins the Queen's Award for Enterprise in the UK for the third time.
2016 accomplishmentsOpec switches to using Argus as its external reference price provider for all energy markets. From 1 January, Argus prices are used to calculate the influential Opec Reference Basket (ORB) price.
From 1 February, Russia officially adopts Argus price assessments for calculating mineral extraction taxes for crude exports.
Leading growth equity firm General Atlantic buys a majority share in Argus after the Nasmyth family decided to sell their stake.
2017 accomplishmentsArgus launches Argus Mexico Fuel Markets, covering refined product trade in Mexico. The use of Argus prices in indexation increases, including in Peruvian gasoline and diesel import tenders, Indian naphtha exports and Japanese coking coal imports.
Argus completes successfully the sixth annual benchmark review in line with IOSCO requirements. Adrian Binks wins the prestigious international entrepreneur of the year award and Argus achieves a top 10 ranking in a leading UK business league table.
2018 accomplishmentsArgus opens new offices in Mexico City, Cape Town and Sao Paolo.
Argus launches new prices for South African fuels, US crude export markets, Chinese crude oil imports, international low sulphur fuel oil, delivered jet fuel to Brazil, Ukrainian natural gas, crude oil delivered to Europe and Chinese biofuels markets.
Use of Argus prices in indexation, cost analysis and taxation purposes increases. Brazil’s energy agency chooses Argus to calculate government diesel subsidies. Kazakhstan starts to use Argus to price sulphur exports and extends its use of Argus LPG prices. Tajikistan chooses Argus as a price reference as it diversifies LPG imports. Russia selects Argus price assessments to calculate refinery compensation. Italy opts for Argus LNG in its regasification cost calculations
Argus wins an award for its Mexican energy coverage.
Argus acquires fertilizer, chemicals and metals intelligence provider Integer Research.
Argus completes its seventh annual benchmark review and rises in an important UK business league table.
Henri de Castries joins Argus’ board of directors.
2019 accomplishmentsArgus extends coverage of low sulphur fuel oil markets as IMO 2020 approaches.
Argus adds price assessments for Russian coal exported to Poland.
LME selects Argus prices to settle China steel futures.
Kazakhstan expands its use of Argus prices for LPG indexation.
Mexico switched to Argus for crude export pricing.
Argus buys German energy price reporting service OMR.
Argus opened offices in Hamburg, Amsterdam and Pittsburgh.
Argus daily methanol assessments are used to settle methanol swaps traded on Ice and CME.
Mexico adopts Argus WTI as the formula for its Maya heavy crude oil sales to the Americas.
Argus launches clean fuels coverage and prices in Brazil.
New and improved Argus Fertilizer Analytics service launched.
Argus Fertilizer Africa, and Argus Asia Fertilizer and Agriculture launched.
Argus indexes added to the North American Energy Standards Board’s natural gas base contract.
Argus launches European power market assessments for Guarantees of Origin.
Argus launches LNG freight round voyage rates for three benchmark routes to best capture variable cost in chartering LNG vessels.
Argus launches anode-grade petroleum coke prices.
2020 accomplishmentsCME Group announces its Ferrous Metals product suite is expanding with the addition of North European Hot-Rolled Coil Steel (Argus) futures contract.
Argus launches China’s first domestic LPG index
Argus launches new LNG prices for giant Yamal LNG and Arctic LNG 2 complexes in Russia
South Africa switches to Argus to price LPG
Argus purchases agricultural specialists market reporting agency Agritel
Argus launches prices for sustainable aviation fuel, renewable diesel and renewable feedstocks, for key markets across the world
Argus launches forward gas price assessments for Germany’s new virtual trading point (VTP) in preparation for the merger of the NCG and Gaspool hubs in 2021.
2021 accomplishmentsArgus launches prices for propane and butane delivered into Ningbo, eastern China
Argus opens an office in Mumbai
IEA extends use of Argus prices
Green ammonia prices are launched
Paraguay switches to Argus for oil products
Argus launches prices for key New Orleans fertilizer hub
Argus launches spot and forward agricultural pricing date for wheat corn, barley and soybeans, as well as associated freight costs
Oleochem Analytics, the renewable chemicals information provider joins Argus
Flood-drought cycles lead Argus to launch an Australian cattle price index
Argus launches gas and power market report for Brazil
2022 accomplishmentsNew Argus biomethane guarantee of origin price assessments will provide transparency to sustainable energy markets
Argus Crude Market Ticker launches to provide international transparency for two of the world’s most important crude markets – WTI Houston and WTI Midland
Peru completes switch to Argus for fuel import pricing
Argus launches global hydrogen pricing report
Argus launches Europe’s first AdBlue (diesel emissions fluid) price reference
Argus launches a monthly European contract price
Non-Russian origin diesel price launched
Ecuadorian crude price assessments relaunched
West Africa export-parity LPG prices launched
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