President Donald Trump has touted Venezuela's oil, inviting executives to the White House on Friday to discuss drilling. "We want stability," he said last week, "but we do want democracy."

Environmental experts warn that U.S. plans under President Donald Trump to restart and control Venezuelan oil exports could intensify pollution, greenhouse gas emissions and ecological damage in a country already burdened by decades of oil-related degradation.

The country’s oil industry has undergone major shifts and two waves of nationalization since its first well started pumping in 1914.

Chevron vice-chair Mark Nelson says the company can increase production from its existing operations in Venezuela by 50 per cent in the next 18 to 24 months. “This is taking the momentum of improvements we’ve already made there locally, and building on those and creating more mental momentum for the people of Venezuela,” he said.

President Donald Trump on Friday called on oil executives to rush back into Venezuela as the White House tries to quickly secure $100 billion in investments to fix the country's neglected infrastructure and fully tap into its expansive reserves of petroleum.

President Trump says he has canceled "the previously expected second Wave of Attacks" on Venezuela. He is meeting with oil industry executives at the White House Friday.

U.S. forces boarded another Venezuela-linked oil tanker in the Caribbean on Friday, according to U.S. Southern Command. This is the fifth oil tanker to be seized by the United States and the third in the last three days.

Four Venezuelan oil tankers reportedly return to port after operating in "dark mode" as the U.S. seizes vessels amid Trump's push to acquire oil.