Exxon Mobil in Talks to Acquire Oil Production Rights in Venezuela
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.VENEZUELAN OIL:Exxon Mobilis in talks to acquire rights to produce oil in Venezuela nearly two decades after it was effectively expelled from the country, several people familiar with the matter told' Anatoly Kurmanaev. If finalized, the deal would mark Exxon's return to the country after years of legal battles and be "a major victory for President Trump," the report stated.FLU VACCINE:Moderna'sexperimental mRNA-based flu vaccine will be reviewed by an FDA advisory panel on June 18 ahead of an August 5 approval decision, signaling a possible return to greater transparency in the agency's review process after advisory hearings became less common during the second Trump administration, Bloomberg's Rachel Cohrs Zhang and Gerry Smith.CHINA TRIP:Executives from companies including Boeing, Apple, Nvidia, and Teslajoined President Trump's delegation to China seeking support from both governments while also pressing Beijing over business restrictions, including blocked solar equipment exports to Tesla, supply constraints affecting Coherent, and delays approving Nvidia's H200 chip sales in China, The New York Times' Ana Swanson. Following the summit, the U.S. and China announced limited progress including Chinese commitments to buy American agricultural products and 200 Boeing planes, while Citiappeared closer to securing approval for a wholly owned securities business in China, though many broader corporate concerns remain unresolved despite lobbying efforts coordinated with senior U.S. officials, Swanson writes.LOAN OFFER:The Pentagon is debating on scrapping an $80M conditional loan offer to ReElement Technologies, Joe Deaux and Kate O'Keeffe of Bloomberg reports. The Pentagon's Office of Strategic Capital announced the agreement with ReElement in November, but officials have since raised doubts about the company's ability to scale its technology, people familiar with the process told. The deal, which is meant to break China's chokehold on critical minerals, has not been canceled and may still go ahead, the sources added. Additionally, the deal is part of a bigger $1.4B critical-minerals agreement that includes Vulcan Elements and is part of the Trump admin's drive to develop domestic production of rare earth elements. Companies involved in the development and mining of rare earth minerals include Nova Minerals, Ioneer, Lynas Rare Earths, MP Materials, Energy Fuels, NioCorpand VanEck Vectors Rare Earth/Strategic Metals ETF.
