Murphy Oil Corporation Releases 2024 Sustainability Report

Murphy Oil Corporation (NYSE: MUR) announced today that it released the 2024 Sustainability Report, which covers the company’s environmental, social and governance (ESG) performance and progress on established targets. The report is available here, along with a summary fact sheet.

"Our team continues its legacy of operational excellence by making great strides in operating more sustainably for the long term, and I am pleased at what we achieved this past year. Murphy’s sixth sustainability report highlights the dedication and collective efforts of our incredible team in carrying out our goal of providing society with responsibly produced energy,” said Roger W. Jenkins, Chief Executive Officer.

Murphy’s 2024 Sustainability Report spotlights how sustainable business practices are integrated into the company’s strategy, goals and daily operations. Highlights from the report include:

• Continuing strong environmental stewardship
  • Reduced greenhouse gas (GHG) emissions intensity by 37 percent, reduced methane intensity by 51 percent and reduced flaring intensity by 66 percent from 2019 to 2023
    • Recorded lowest intensities for all three emissions metrics since becoming an independent exploration and production company in 2013
  • Remain on-track to achieve 2030 goals of zero routine flaring and a 15 percent to 20 percent reduction in GHG intensity compared to 2019
  • Achieved highest water recycling volume for onshore assets in company history in 2023
  • Maintained zero offshore spills over one barrel in the Gulf of Mexico since 2003
• Impacting people and communities positively
  • Lowered Total Recordable Incident Rate (TRIR) by 46 percent from 2019 to 2023
  • Supported the community with more than $11 million in charitable donations made during the last four years
• Maintaining strong governance oversight
  • Earned third-party assurance of GHG Scope 1 and 2 absolute data for fourth consecutive year
  • Approved a 20 percent weighting for sustainability metrics in the annual incentive plan, reflecting a level commensurate with the weighting set in 2022
  • Improved MSCI ESG Rating from A to AA in 2024
• Awards and recognitions
  • Achieved United Way of Greater Houston Chairman’s Division for the past nine years
  • Received the United States President’s Volunteer Service Award from the Houston Food Bank for the third consecutive year in recognition of employees’ volunteer efforts
  • Recognized by the Greater Houston Partnership as a “Best Place for Working Parents” for the third consecutive year
  • Named in US News and World Report’s 2024-2025 “Best Companies to Work For in Energy”

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