Energy Update
Jan 29 (Reuters) - U.S. energy firms cut oil rigs for the sixth straight week, data showed on Friday, and were expected to shed more in coming weeks with three major U.S. shale oil companies slashing their spending plans after crude prices hit 12-year lows. Drillers removed 12 oil rigs in the week ended Jan. 29, bringing the rig count down to 498, the least since March 2010, oil services company Baker Hughes Inc said in its closely followed report.
CARACAS, Jan 29 (Reuters) - Venezuela's Oil Minister Eulogio del Pino will visit Russia on a tour beginning on Saturday of OPEC and non-OPEC countries intended to drum up support for action to stem the tumble in crude prices, the government said.
WASHINGTON, Jan 29 (Reuters) - The two U.S. Senators representing California said on Friday they will propose a federal task force to investigate the cause and response to the massive natural gas leak near Los Angeles.
RIO DE JANEIRO, Jan 29 (Reuters) - Oil and gas fields already paid for and in production can sustain Brazilian state-run company Petroleo Brasileiro SA for two to three years of low prices, a board member for the firm told reporters on Friday.
If the world is serious about halting the worst effects of global warming, the renewable energy industry will require $12.1 trillion of investment over the next quarter century, or about 75 percent more than current projections show for its growth.
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