Greenland Warns Trump-Linked Firm over Unauthorized Drilling Plan
BofA: Hormuz Needs 10 Times More Ships to Stabilize Oil Markets What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… A Texas-based oil company chaired by an entrepreneur thought to be close to U.S.
President Donald Trump is moving drilling equipment in Greenland in preparation for an oil drilling campaign.
However, the drilling plans or the moving of the equipment have not been authorized by the Greenland authorities yet, although a process to do so is under review at present.
That’s why Greenland’s government has recentlysaida strong warning would be sent to the licensee “with a warning that all future logistical matters must be advised and approved by the mineral resources authority – before they are carried out.” The licensee is London-listed company 80 Mile, but its partner in the operation is U.S.Greenland Energy Company, which has said it will fund 100% of the costs associated with up to two exploration wells, designed to delineate the hydrocarbon potential of a project in the Jameson Land Basin.
Larry Swets, Jr., believed to be close to President Trump, is chairman of the board at Greenland Energy.
This weekend, Swetsrepostedon X on the issue with the lack of authorization with a “well said” commentary on a post that an article in The Guardian was “seemingly determined to manufacture a Trump controversy while burying the facts” about 80 Mile and Greenland Energy.
The Greenland government said in its statement that no approval was granted at the time of the moving of the equipment.
But authorities noted that “an approval to move drilling equipment has since expired and has not been renewed, but is under consideration.” In a letter to shareholders last week, Greenland Energysaidit “has continued advancing preparations for what we believe will be one of the most significant onshore exploration programs undertaken in Greenland in decades.” 80 Mile Plc, the licensee of the Jameson Land joint venture, continues to lead the permitting process and stakeholder engagement.
Greenland Energy, for its part, “remains actively engaged in supporting technical planning, operational readiness, logistics, and overall project coordination.” “Together, our objective is to ensure that once all required approvals are received, the project is positioned to commence drilling safely, efficiently, and in accordance with Greenland's rigorous regulatory standards,” Greenland Energy said.
“Recent high-level meetings between project leadership and Greenlandic regulatory and oversight authorities have been constructive, and we continue to be encouraged by the progress being made toward the remaining approvals required for drilling,” the company told shareholders.
Following discussions with government officials, the parties agreed that concentrating the 2026-2027 Winter program on one exploration well, rather than pursuing two wells during the current.
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