Murphy Oil Corporation (MUR) — ESG & Values Scores

Environment story

Murphy Oil is an integrated oil & gas E&P company with substantial fossil fuel exposure and rising Scope 3 emissions risk. The company discloses Scope 1 & 2 emissions but lacks a disclosed net-zero target before 2045, triggering a -15 penalty. Scope 3 emissions (product-use combustion of oil & gas sold) are undisclosed in absolute terms, triggering an additional -15 penalty. The 10-K acknowledges climate change litigation exposure and transition-to-lower-carbon risks but does not quantify mitigation or renewable investments in decarbonization infrastructure. Hydraulic fracturing operations pose groundwater and operational contamination risks. The company recognizes environmental compliance costs but has not disclosed significant capital allocation to renewable infrastructure or operational decarbonization. No verified greenwashing markers detected in the filings, but the company's sustainability strategy remains commodity-price-dependent without binding net-zero commitments before 2045.

Criticisms on file

Climate Change Litigation Exposure: Company named as co-defendant with other oil & gas companies in climate-related lawsuits; management states currently not expected to result in material liability, but acknowledges future regulatory/litigation evolution could change outcome.
Source: MUR 10-K Item 1A Risk Factors, General Risk Factors section: 'While the Company has been named a co-defendant with other oil and natural gas companies in lawsuits related to climate change, these lawsuits have not resulted in, and are not currently expected to result in, material liability for the Company.'
Hydraulic Fracturing and Groundwater Contamination Risk: Operations in Eagle Ford Shale (Texas) and Canadian provinces (BC, Alberta) subject to hydraulic fracturing; risks include underground migration, surface spillage, groundwater/surface water contamination from petroleum constituents and chemical additives, and seismic activity linked to wastewater injection.
Source: MUR 10-K Item 1A Risk Factors: 'Hydraulic fracturing operations subject the Company to operational risks inherent in the drilling and production of oil and natural gas.'
Activist Pressure and Reputation Risk: Company acknowledges increased global opposition to oil & gas drilling, development, and production; activist efforts targeting safety, human rights, climate change, and environmental matters; increased investor scrutiny regarding sustainability goals and timelines.
Source: MUR 10-K Item 1A Risk Factors: 'We face various risks associated with increased activism against, or change in public sentiment for, oil and natural gas exploration, development, and production activities and sustainability considerations, including climate change and the transition to a lower carbon economy.'
Transition Risk and Hydrocarbon Demand Reduction: Company explicitly acknowledges potential long-term erosion of fossil fuel business model due to global climate agreements, renewable energy subsidies, technological advancement in non-fossil fuels, and regulatory restrictions on GHG emissions.
Source: MUR 10-K Item 1A Risk Factors: 'Murphy could face long-term challenges to the fossil fuels business model reducing demand and price for hydrocarbon fuels.'

Disclosed initiatives

Health, Safety, Environment and Corporate Responsibility Committee

Board-level committee oversight of environmental, health and safety governance, annual goals, and management systems. Company maintains worldwide HSE policy and asset integrity plans.

Governance structure; no direct emissions reductions quantified.
Methane Emissions Compliance and EPA Regulations

Company acknowledges EPA New Source Performance Standards (March 2024) regulating methane and VOC emissions, including periodic leak inspections, venting/flaring restrictions, and third-party monitoring. Compliance deadlines extended by EPA rule in December 2025.

Regulatory compliance; cost burden; no net reduction in absolute emissions disclosed.
Climate Risk Assessment (TCFD Framework)

Company states alignment with TCFD framework for governance, strategy, risk identification, and climate risk management. 2025 Sustainability Report issued August 6, 2025 (not incorporated by reference in 10-K).

Disclosure and monitoring; substantive emissions reduction targets not detailed in this filing.

Social story

Murphy Oil discloses limited diversity and social metrics in the 10-K filing itself. No CEO-to-median-worker pay ratio is explicitly provided in the 10-K, preventing direct assessment against the 200:1 threshold. Leadership diversity percentage is not disclosed in the filing. The company acknowledges competition for talent due to industry demographic shifts (aging workforce, declining enrollment in oil & gas fields) and notes that public sentiment against fossil fuels may impair recruitment. No documented union-suppression activities or major strikes are referenced in the 10-K. Supply chain human-rights audits are not detailed; the company operates in Côte d'Ivoire, Vietnam, and other regions but does not disclose conflict-mineral or forced-labor assessments in this filing. The company maintains workforce and retirement benefit programs but specific diversity commitments, supplier diversity programs, or civil-rights audit results are not reported in the 10-K. Compliance with applicable labor laws is stated, but detailed social audit trail is absent.

Criticisms on file

Talent Competition and Workforce Challenges: Company explicitly states difficulty attracting and retaining qualified personnel due to industry demographic shifts (aging workforce, decreased technical enrollment), merger/acquisition activity diverting talent, and negative public sentiment toward oil & gas sector.
Source: MUR 10-K Item 1A Risk Factors: 'We face continued competition for talent to support our operations' and 'Due to significant shifts in demographics impacting the industry, such as an aging workforce and decreased enrollment in relevant fields, Murphy and industry peers are experiencing challenges in sourcing and developing a pipeline of talent for the foreseeable future.'

Disclosed initiatives

Workforce Talent Attraction and Retention

Company acknowledges heightened competition for skilled personnel in oil & gas sector due to M&A activity, demographic aging of workforce, declining technical enrollment, and negative public sentiment toward fossil fuels. Dedicated personnel in HR focus on pipeline development and retention.

Acknowledged challenge; no specific diversity or wage-equity programs quantified in 10-K.
Retirement and Postretirement Benefit Plans

Murphy and subsidiaries maintain defined-benefit retirement plans for certain full-time employees; sponsors health care and life insurance plans for most retired U.S. employees. In 2025, company paid $25.1 million into retirement plans and $12.9 million into postretirement plans.

Employee benefits; no diversity or equity gaps disclosed.
Health, Safety and Environmental Governance

Board-level oversight of HSE matters; company-wide policies, annual goals, and management systems at business unit and senior leadership levels.

Governance structure; specific occupational safety metrics and injury rates not disclosed in 10-K.

Governance story

Murphy Oil maintains a board structure with committee oversight, including a Health, Safety, Environment and Corporate Responsibility Committee. The 10-K does not explicitly disclose board independence percentage, preventing direct assessment against the 75% threshold. The company does not employ a dual-class share structure with unequal voting rights. The company's lobbying expenditures and political contributions are not disclosed in this 10-K filing, though the company acknowledges exposure to regulatory and political developments affecting oil & gas leasing, permitting, and climate policy. The company was named as a co-defendant in climate-related litigation but states litigation is not currently expected to result in material liability. No active antitrust, consumer-safety, or financial-fraud proceedings are disclosed. The company notes SEC climate disclosure rules have been stayed pending legal challenges. Overall governance structure appears standard for E&P sector; transparency on board independence, lobbying spend, and regulatory proceedings is limited in this filing.

Criticisms on file

Political and Regulatory Risk Exposure: Company is exposed to frequent changes in environmental, health, safety, and climate-related laws and regulations; company acknowledges uncertainty from shifts in U.S. Administration's approach to oil & gas leasing and permitting (Biden-era pause on federal leases vs. Trump-era expedited leasing policies per OBBBA and January 2026 orders).
Source: MUR 10-K Item 1A Risk Factors: 'Murphy's operations and earnings have been and will continue to be affected by domestic and worldwide political developments' and 'These developments demonstrate the uncertainty that can arise from the U.S. Administration's approach to oil and natural gas leasing and permitting.'
Climate Disclosure Rule Litigation and Uncertainty: SEC climate disclosure rules adopted in March 2024 have been stayed pending legal challenges and further SEC action; implementation costs and timelines remain uncertain.
Source: MUR 10-K Item 1A Risk Factors: 'The SEC's climate disclosure rules have been stayed pending legal challenges and further action by the SEC, but implementation of the rules as finalized could be costly and time consuming.'
Climate Change Litigation: Company named as co-defendant with other oil & gas companies in climate-related lawsuits; management states currently not expected to result in material liability, but acknowledges future evolution of laws, regulations, and litigation outcomes could change this.
Source: MUR 10-K Item 1A Risk Factors: 'While the Company has been named a co-defendant with other oil and natural gas companies in lawsuits related to climate change, these lawsuits have not resulted in, and are not currently expected to result in, material liability for the Company.'
Cybersecurity and Data Risk: Company acknowledges sophisticated cyber threats and increasing vulnerability to supply-chain compromises (third-party vendors, software, cloud platforms); potential for material financial impact, reputational harm, and regulatory penalties.
Source: MUR 10-K Item 1A Risk Factors: 'Murphy's sensitive information, operational technology systems and critical data may be exposed to cyber threats.'
AI Technology Risks: Company incorporates AI and machine learning into internal processes but acknowledges uncertain regulatory environment, potential for litigation, confidentiality/security risks, reputational harm, and risk of inaccuracies or errors in AI-generated output.
Source: MUR 10-K Item 1A Risk Factors: 'We are incorporating AI technologies into our processes, and these technologies may present business, compliance, and reputational risks.'

Disclosed initiatives

Board-Level Risk Oversight

Board exercises oversight of enterprise risk management program covering strategic, operational, cybersecurity, financial, compliance and legal risks. Board receives annual updates on risk management processes.

Governance structure; no specific governance improvements or independence metrics disclosed.
Health, Safety, Environment and Corporate Responsibility Committee

Committee of Board members with oversight of company's HSE governance program, annual goals, management systems, and asset integrity plans.

Committee structure; specific board diversity or independence metrics not disclosed.
Regulatory Compliance and Environmental Governance

Company allocates capital and G&A budget toward compliance with international, foreign, national, state, provincial and local environmental, health and safety laws and regulations.

Compliance structure; no quantified lobbying or regulatory engagement metrics disclosed.

These are Missionomics' own editorial scores — directional signals built from disclosed facts under a published method, not certifications or definitive ratings of Murphy Oil Corporation. Coverage and confidence vary by data point, and figures can lag real-world changes. Read the full Methodology for sourcing, scoring, and correction details — or open Murphy Oil Corporation in the app for interactive charts and portfolio building.

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