Trump Trade: Trump hinted at major changes in Venezuela to oil execs

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.

OIL COMPANIES: President Trump hinted at major changes in Venezuela to a couple of oil executives a month before Nicolas Maduro’s capture, The Wall Street Journal’s Collin Eaton and Alex Leary report. Chevron’s (CVX) shares rose 5% and Exxon’s (XOM) 2% after the Venezuela news, but Chevron is wary of new investments without stability, according to the report. Venezuela has an estimated 300 billion barrels of oil reserves, but current output is only 900,000 barrels a day. Chevron is the only international oil company with operations in Venezuela.

URANIUM ENRICHMENT: The U.S. Department of Energy announced $2.7B to strengthen domestic enrichment services over the next ten years. “In support of President Trump’s commitment to enhance energy security and reduce reliance on foreign suppliers, the historic investment expands U.S. capacity for low-enriched uranium and jumpstarts new supply chains and innovations for high-assay low-enriched uranium to create American jobs and usher in the nation’s nuclear renaissance,” DOE stated. The following companies were awarded task orders totaling $2.7B to provide enrichment services for LEU and HALEU: American Centrifuge Operating – $900M- to create domestic HALEU enrichment capacity; General Matter – $900M- to create domestic HALEU enrichment capacity; Orano Federal Services – $900M – to expand U.S. domestic LEU enrichment capacity.

SITE SELECTION: Trump Media & Technology Group (DJT) and TAE Technologies announced that the site selection planning process for the first fusion power plant based on TAE’s technology is underway and that, following the receipt of required approvals and the closing of their previously announced merger, the combined company is anticipated to begin construction of its first fusion power plant in 2026, which is expected to be 50 MWe. Future plants are expected to be 350 – 500 MWe. Criteria for the initial site are expected to include: Minimum of 20 acres, facilitating construction of a planned 50 MWe fusion reactor, a future 350 – 500 MWe fusion reactor, and a next-generation reactor for advanced research; Access to a primary distribution grid that can transport adequate electricity to and from the plant; Proximity to a metropolitan hub, airport, and pool of local talent; Presence of local and state governments that support energy production and fusion power; Ability to maintain sufficient security for infrastructure and personnel TMTG and TAE recently signed a definitive merger agreement to combine in an all-stock transaction valued at more than $6B, with Nunes and Binderbauer serving as co-CEOs of the combined company. The transaction is expected to close in mid-2026, subject to customary closing conditions, including shareholder and regulatory approvals. TMTG and TAE will continue to operate as separate, independent entities until the Proposed Transaction closes.