Marathon Oil Corporation (NYSE:MRO) today published its 2018 Sustainability Report on its corporate website at www.marathonoil.com/sustainability-report. The report is available in digital format, with downloadable versions of the full report and a summary report.
The 2018 report covers:
- Marathon Oil’s actions to address the environmental, social and governance (ESG) risks, challenges and opportunities to its business and the sustainability of the communities where it operates.
- Comprehensive information about the company’s nonfinancial and financial performance, supported by quantitative metrics and qualitative examples.
- Statements from Lee Tillman, Marathon Oil Chairman, President and CEO, and Lisa Hyland, Chair of the Health, Environment, Safety and Corporate Responsibility Committee of the company’s Board of Directors.
- Enhanced disclosures addressing climate change and air quality, including 2018 metrics for methane and other air emissions, and technology and strategies for reducing methane and air emissions in its U.S. unconventional resource plays.
- Enhanced disclosures on water management, including 2018 metrics for total U.S. water consumption, water use by source, fresh water use by asset and produced water management practices by asset.
- A discussion of Marathon Oil’s roles and responsibilities regarding its Enterprise Risk Management process to identify and effectively manage its most significant risks and the Responsible Operations Management System to reduce operational risk.
- Details on how Marathon Oil improved safety performance in 2018, including its safety leadership program and contractor management plans.
- Details on the company’s stakeholder engagements and social investments aimed at enhancing the quality of life in communities where its employees live and work.
- Highlight stories on the company’s role in improving produced water management in the New Mexico Permian Basin, its progress creating the oilfield of the future through technology and innovation, and its efforts to sustain the benefits of its business in Equatorial Guinea. These stories demonstrate how Marathon Oil’s commitments to governance, society, the environment, safety and its workforce translate to its day-to-day business.
- Metrics spanning five years of ESG, safety and workforce performance.
“Marathon Oil is proud to play a role in maintaining U.S. energy security and fueling the world in which we live,” said Lee Tillman. “Being a safe, responsible and ethical operator, and being mindful of our neighbors and communities, is critical to our ability to run efficiently and create long-term value for shareholders. At Marathon Oil, this is a foundational belief that’s rooted deep within our culture and forms the basis of our license to operate.
“Our corporate sustainability efforts inform our risk management process and strategy, and our 2018 Sustainability Report outlines the disciplined approach we take in all aspects of our business. For more than a decade, we’ve been proactively disclosing information through our annual sustainability report and it serves as the definitive source for our comprehensive efforts in this area. We’ve made deliberate changes to this report as we continuously seek to improve our disclosure and respond to stakeholder needs. There’s more work to do to meet our own high performance standards as well as our stakeholders’ expectations, but we’re making meaningful progress.”
Marathon Oil values stakeholder opinion and welcomes feedback on its 2018 Sustainability Report. To comment on the report, please complete the report survey or send an email to ESGReport@marathonoil.com.
Marathon Oil Corporation, based in Houston, Texas, is an independent exploration and production (E&P) company focused on the most significant oil-rich resource plays in the U.S., with a strong international business in Equatorial Guinea.