The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0546 GMT - Seatrium's arbitration news may weigh on the stock's ability to rebound in the near term, says DBS Group Research in commentary. The Singapore offshore and marine company's subsidiary and its consortium partner Aibel filed arbitration proceedings because of disagreements over work, revenue and costs related to a North Sea wind farm project, according to a Thursday filing. DBS notes the Seatrium unit's preliminary claim is EUR180 million, while Aibel's is EUR113 million, and that the Singapore company is uncertain of the financial effect of the proceedings, as it could depend on outcome of the arbitration. Before the news broke, DBS said Seatrium had scope for a near-term rebound when its shares weakened to around S$2.08. That potential could now be limited, DBS says. Seatrium's shares are flat at S$2.13. (megan.cheah@wsj.com)

0251 GMT - Beach Energy's dividend in FY 2026 could underwhelm the market as the company hoards cash for a potential M&A push, suggests UBS. Beach recently secured an additional A$300 million term loan, which brings its available liquidity to A$925 million. That could support its growth ambitions, and opportunities abound, says analyst Tom Allen. They include seeking exposure to Santos's Narrabri gas project, along with conventional gas and liquids opportunities in the Northern Territory, Queensland and Western Australia. "In anticipation of a possible shift in application of Beach's capital framework, we have cut our dividend profile," UBS says. "We look to the February result as a key catalyst to clarify how the board will balance the need to invest in growth and address Beach's short average reserve life (7 years) while also delivering stronger shareholder returns." (david.winning@wsj.com; @dwinningWSJ)

1931 GMT - Oil futures settle higher in choppy rangebound trade, helped by rising winter fuel demand and easing tensions between the U.S. and Europe over Greenland. "The cold temperatures are definitely boosting the heating oil market, and that's giving some support," says Phil Flynn of the Price Futures Group. Also on the bullish side, the IEA raised its demand forecast again, he says, while there's been a "deafening silence" on Iran the past few days. On the downside, U.S. Energy Secretary Chris Wright said Venezuela could raise its oil production faster than people are expecting, "which is keeping the market well anchored," Flynn adds. WTI settles up 0.4% at $60.62 a barrel as the March contract makes its front-month debut, and Nymex diesel futures rise 3.2%. Brent gains 0.5% to $65.24 a barrel. (anthony.harrup@wsj.com)

1814 GMT - Halliburton's liftoff is about to get started. The oilfield-services company posted solid profit and revenue beats in 4Q, Melius Research's James West and Sanskriti Reddy say in a note, and the tepid near-term guide isn't a cause for concern. "The 'flattish' 1H26 is the setup for the upturn, which will begin in 2H26 and accelerate in 2027 and 2028," they write. The analysts' bullishness stems from an expectation that the North American market is bottoming, paving the way for recovery as macroeconomic fundamentals improve. Meanwhile, the outlook for international and deepwater business is promising, they add. Halliburton gains 3.3%. (connor.hart@wsj.com)

1741 GMT - Oklo's agreement with Meta to develop an advanced nuclear campus "signals a meaningful step forward," BofA Securities' Dimple Gosai says in a note. "Investors are increasingly looking for tangible evidence advanced nuclear is moving from concept to execution, and we think this agreement provides exactly that," Gosai says. Meta's willingness to commit capital years ahead of delivery also underscores the importance of nuclear as artificial intelligence and datacenter demand accelerate, she says. The deal also de-risks Oklo's power business, she notes. BofA Securities upgrades Oklo to buy from neutral and raises its price target to $127 from $111. (kelly.cloonan@wsj.com)

1541 GMT - Oil futures flit between small gains and losses after President Trump says in Davos that the U.S. won't use force to take control of Greenland, while insisting the U.S. needs to own the island to defend it. The Greenland issue and related tariff threats have had little impact on the oil market, which has been more focused on Venezuela, Iran and broader global oversupply. Venezuela isn't a fundamental driver, although if the country can raise production over time it could be bearish for heavy crude, says Marcus McGregor, head of commodities research at asset manager Conning. "Iran could be a game-changer, but the backdrop is a well supplied market," he adds. WTI and Brent are off 0.1% at $60.33 and $64.85 a barrel, respectively. (anthony.harrup@wsj.com)

1401 GMT - Halliburton expects declining sales in 1Q, as it works to rebalance supply to meet sluggish near-term demand. The oil-field service company guides for sales to fall 7% to 9% sequentially across its completion and production division during the current quarter, hurt in part by a slowdown in international activity. And revenue across Halliburton's drilling and evaluation unit is projected to fall 2% to 4% sequentially. CEO Jeff Miller sees 2026 as a rebalancing year, he says on a call with analysts. Longer-term, he expects business to accelerate as macroeconomic conditions improve, and international operations ramp up. Shares rise 4.4%. (connor.hart@wsj.com)

1350 GMT - Halliburton CEO Jeff Miller says his phone is ringing off the hook due to the renewed interest in Venezuelan oil. The oil-field service company is currently working through the mechanics required to reenter the country, which Miller expects to occur sooner rather than later. "We still have a footprint there in Venezuela, in terms of operating bases and whatnot, and so getting equipment there to work is fairly straightforward," he says on a call with analysts. "I'm confident that we can move fairly quickly in Venezuela." As far as size, Miller says the Venezuelan oil mark is currently relatively small. But he's optimistic that it can become a much bigger business over the longer term. (connor.hart@wsj.com)

1344 GMT - Halliburton CEO Jeff Miller says Venezuela represents a tremendous opportunity for the company, which provides oil producers with equipment and expertise. "I have always believed that oil and gas is the key to Venezuela's economic recovery," Miller says on a call with analysts. He notes that Halliburton began operating in the country 1938, before exiting in 2019 due to its desire to remain in compliance with U.S. sanctions. "Halliburton knows this market well, and we will grow our business there as soon as commercial and legal terms are resolved, including payment certainty," Miller says. "The early steps are already well underway." (connor.hart@wsj.com)

1436 GMT - Oil prices recoup some losses after President Trump said the U.S. wants to take control of Greenland but would use no force, helping to ease investors' fears of geopolitical turbulence. Brent crude is flat at $64.93 a barrel, while WTI rises 0.2% to $59.84 a barrel. Speaking in Davos, Switzerland, Trump said the U.S. is pursuing negotiations over Greenland and repeated his claim that only America is capable of defending the territory. Earlier, the crude benchmarks had fallen 1.5%,driven by concerns that Trump's push to annex Greenland and fresh tariff threats against Europe could revive trade frictions, weighing on global demand. (giulia.petroni@wsj.com)

1409 GMT - The European Union's sustainable-aviation-fuel regulation will likely follow the fate of its ban on combustion-engine cars, TotalEnergies Chairman and CEO Patrick Pouyanne says at the World Economic Forum in Davos. In December, the EU proposed watering down rules that would have effectively banned the sale of new combustion-engine cars in the bloc from 2035. "What happened to the car regulation will happen to the SAF regulation in Europe," Pouyanne tells a panel at the World Economic Forum. Under the so-called ReFuelEU Aviation Regulation, the EU set a target of 6% of all fuel supplied at EU airports to be sustainable aviation fuel. Pouyanne says his bet is that this won't happen and the European Commission, the EU's executive arm, will have to revise the plan. (adria.calatayud@wsj.com)

1333 GMT - The debate in the energy industry has shifted from sustainability to affordability, TotalEnergies Chairman and CEO Patrick Pouyanne says in Davos, Switzerland. Pouyanne says oil is the cheapest fuel, and that the concept of "green premium" doesn't exist in practice. "Nobody wants to pay more," Pouyanne says in a panel at the World Economic Forum in Davos. "Nobody is ready to pay a premium to be clean." (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

January 22, 2026 04:20 ET (09:20 GMT)

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