Murphy Oil Corporation Releases Fifth Annual Sustainability Report

Source Press Release
Company Murphy Oil Corporation 
Tags Environment, Strategy - Corporate, ESG/CSR
Date August 02, 2023

Murphy Oil Corporation (NYSE: MUR) announced today that it released the 2023 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."

I am pleased at the work our company has done to enhance our sustainability efforts this past year. Our 2023 Sustainability Report highlights our advances in technology and data, which have driven efficiencies and helped reduce our impact on the environment. This furthers our goal of operating sustainably for the long term. Our team continues to support our communities as well, and we appreciate the recognitions we have received because of this,” said Roger W. Jenkins, President and Chief Executive Officer. “I am also pleased that our efforts are being recognized externally, as we were ranked the highest-scoring company for ESG performance out of more than 40 North American operators for the 2021 reporting year by Rystad Energy.”

Murphy’s 2023 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 25 percent, reduced methane intensity by 34 percent and reduced flaring intensity by 60 percent from 2019 to 2022
    • Achieved highest water recycling ratio for onshore assets in company history in 2022, surpassing the previous year’s record, while continuing to develop solutions to reduce freshwater requirements and maximize water recycling
    • Maintained environmental excellence with second consecutive year of zero recordable spills in 2022, as defined by the International Association of Oil and Gas Producers (IOGP)
  • Impacting people and communities positively
    • Lowered Total Recordable Incident Rate (TRIR) by 29 percent and improved Lost Time Incident Rate (LTIR) by 63 percent from 2019 to 2022
    • Supported the community with more than $3 million in charitable donations made during the last three years
    • Awarded more than 3,200 scholarships to high school students through the El Dorado Promise since 2007
  • Maintaining strong governance oversight
    • Earned third-party assurance of GHG Scope 1 and 2 absolute data for third consecutive year
    • Enhanced accountability by increasing ESG metrics weighting in annual incentive plan in 2022
  • Awards and recognitions
    • Achieved United Way of Greater Houston Chairman’s Division for the past eight years
    • Received the United States President’s Volunteer Service Award from the Houston Food Bank for the second consecutive year in recognition of employees’ volunteer efforts
    • Recognized by the Greater Houston Partnership as a “Best Place for Working Parents” for the second consecutive year
Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd