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Negotiations between Exxon and Pioneer are advanced but have not yet led to an agreement over the acquisition of the largest oil producer in Permian basin. So far, shareholders profited as the share price more than doubled since early 2021 when activist investors publicly pushed for changes. Big Oil is responsible for the bulk of human-induced greenhouse gas emissions and pressure for action is building. "Investor pressure has decreased; they're backtracking... the big investors are enabling this," said climate investment group Follow This founder Mark van Baal. Privately, investors worried if Exxon bowed out of production, someone else would pick up the slack and nothing would be gained for shareholders or energy transfer.

Persons: Olaf Scholz, Exxon Mobil's, Jim Rossman, that's, Andrew Logan, tussles, Mark van Baal, Charlie Penner, Ceres, Logan, Marguerita Choy Organizations: Environmental, Exxon, Republique, New Global Financial, Big Oil, Energy, Natural Resources, Pioneer, Barclays, Oil, Public, International Energy Agency, Investors, Ancora, Holdings, Algonquin Power & Utilities, Elliott Investment Management, NRG Energy, Smart, Thomson Locations: Paris, France, BOSTON, Ukraine

☆ Stella McCartney shows hot pants and sustainable fabric on Paris street
▼ + stars: | 2023-10-02 | by ( Mimosa Spencer | ) www.reuters.com time to read: +1 min

[1/6] A model presents a creation by designer Stella McCartney as part of her Spring/Summer 2024 Women's ready-to-wear collection show during Paris Fashion Week in Paris, France, October 2, 2023. REUTERS/Stephanie Lecocq Acquire Licensing RightsPARIS, Oct 2 (Reuters) - Stella McCartney took her spring runway show outdoors onto a Paris street with a view of the Eiffel Tower and market stands stacked with sustainable products as she presented a collection of airy, feminine gowns and shimmery hot pants. Asked about the challenges of setting up the outdoor market, McCartney said she did not plan for rain. "We don’t ever do a wet weather option, I’m always like, I trust in you mother earth,” McCartney said. Reporting by Mimosa Spencer; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Stella McCartney, Stephanie Lecocq, strode, Andrew Logan, McCartney, Paris Hilton, Chris Rock, Tony Parker, gestured, ” McCartney, Mimosa Spencer, Alison Williams Organizations: Paris, REUTERS, Rights, Eiffel, Thomson Locations: Paris, France

The heat outside mirrored the fervor inside, as Vuitton proved, once again, that in the world of fashion, it's an unstoppable force. ACTIVISTS TARGET LOUIS VUITTON DURING PARIS FASHION WEEKJust before Louis Vuitton’s anticipated show, environmental activists from “Dernière Rénovation” sprayed the brand’s Champs-Elysées storefront with orange paint. According to social media, to challenge the luxury brands of Paris Fashion Week and the wealthy attending the specific event. Another proudly showcased the real seaweed – yes, seaweed – that went into crafting a striking 70s macrame dress. Stella’s Sustainable Market showcased her dedication to innovative materials, complemented by English sculptor Andrew Logan’s artistry.

Persons: Louis Vuitton’s, Zendaya, Cate Blanchett, Jennifer Connelly, Paul Bettany, Jaden Smith, Vuitton, Stella McCartney, Nicolas Ghesquière, Ghesquière’s, Armani, LOUIS VUITTON, “, ”, influencer Jeremstar, Robert Downey Jr, “ Emily, Ashley Park, Anna Wintour, Breteuil, Stella, Linda McCartney, ’, basked, McCartney, Andrew Logan’s, STELLA MCCARTNEY, ” McCartney Organizations: PARIS, harlequins, Paris Fashion Locations: City of Light, Paris, yore, PARIS, Camden

☆ Exxon and Chevron investors shoot down climate proposals after a year a record profits
▼ + stars: | 2023-06-01 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

Investors shot down proposals urging Exxon and Chevron to set more ambitious climate targets. Climate-minded investors blame Big Oil's soaring profits and Republicans' criticism of ESG. "It's incomprehensible why investors are accepting this when they have more to worry about than the profits of Big Oil. Exxon in December said more than 70% of its capital investments in the coming years would flow to fossil-fuel development. "To be fair, we have seen change at Exxon in the last two years.

Persons: Big, Mark van Baal, Critics, Andrew Logan Organizations: Exxon, Chevron, Service, ExxonMobil, BlackRock, Vanguard, Big, Big Oil Locations: Ukraine

☆ The intensity of methane emissions from oil and gas sector has declined, study finds
▼ + stars: | 2023-05-23 | by ( Emma Newburger | ) www.cnbc.com time to read: +2 min

The primary component of natural gas is methane, which is odorless when it comes directly out of the gas well. In addition to methane, natural gas typically contains other hydrocarbons such as ethane, propane, butane, and pentanes. The report, which assessed the production-based emissions of more than 300 U.S. producers, found that the methane emissions intensity of natural gas production and the greenhouse gas emissions intensity of oil and gas production vary dramatically across companies. Natural gas producers in the highest quartile of methane emissions intensity have an average emissions intensity that's nearly 26 times higher than producers in the lowest quartile, the study found. And oil and gas producers in the highest quartile of greenhouse gas emissions intensity have an average emissions intensity that is more than 13 times higher than producers in the lowest quartile.

☆ This could be Big Oil's last surge
▼ + stars: | 2023-03-19 | by ( Catherine Boudreau | Jacob Zinkula | ) www.businessinsider.com time to read: +12 min

The era of Big Oil could end sooner than its massive profits suggest, analysts told Insider. But the worst-case scenario for the environment — that oil and gas companies reinvest all their extra money to keep growing — isn't happening, Logan said. The role of oil and gas companies in the energy transition is an ongoing debate, analysts told Insider. The UK company cited the need for an "orderly" energy transition. And while Big Oil's finances may begin to show some cracks over the next decade, he doesn't expect them to "suffer financially" for another 25 to 35 years.

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