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Murphy Oil USA Inc. Announces Emissions Credit Trade

El Dorado, Arkansas, November 12, 2000 – Murphy Oil USA, Inc. has reached agreement with TransAlta of Alberta, Canada, for the purchase of emissions reduction credits. This international agreement reflects a market-based approach to reduce the amount of carbon dioxide (CO2) emitted into the atmosphere.

“Trading emissions is part of Murphy’s voluntary commitment to take steps to reduce CO2 emissions,” said Frederec Green, Senior Vice President of Murphy Oil USA, Inc. “Along with emissions reduction projects at our facilities, some already underway, and some planned for the future, the trade demonstrates Murphy’s desire, as a good corporate citizen, to be at the forefront of this pioneering effort to find cost-effective way to reduce CO2 emissions.”

Under the agreement, Murphy may purchase up to 210,000 tons of emissions credits from TransAlta, which will be generated via energy efficiency projects at TransAlta’s U.S. facilities. The credits can be applied to offset Murphy’s CO2 emissions. “The agreement works for the environment, for Murphy and for our customers,” Green said, adding, “The purchase of these emissions credits allows us make progress toward emissions reduction goals while still serving the needs of our customers.”

TransAlta is an international electric energy company with more than $6.6 billion in assets. The company is focused on achieving strong earnings growth and enhancing its competitive edge as a low-cost operator of generation and transmission assets, and a successful developer of gas-fired, independent power projects. The company is quickly building scale with more than 8,000 megawatts of generating capacity. TransAlta is concentrating its growth in Canada, the United States, Australia and Mexico.

Murphy Oil USA, Inc. is a wholly owned subsidiary of Murphy Oil Corporation (NYSE: MUR), a natural resources company with headquarters in El Dorado, Arkansas, that operates through wholly owned subsidiaries in the United States and internationally. Murphy’s oil and gas operations are fully integrated with exploration for and production of crude oil and natural gas, as well as refining, transporting and marketing of petroleum products and natural gas.

For More Information
     Barry Jeffery
Investor/ Media Relations
P.O. Box 7000
El Dorado, AR 71731-7000
(870) 864-6501

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