Oil Firm Regrets Trump-Greenland Row Overshadowing Drilling Project
Summary
A British energy company, 80 Mile, plans to start oil drilling in Greenland but says that President Donald Trump's public threats to buy Greenland have distracted from the project. The company holds a drilling license for a large area in East Greenland but has faced delays after criticism from the Greenland government about lacking permissions.Key Facts
- 80 Mile, a British firm, has the drilling license for the Jameson Land Basin in East Greenland covering about two million acres.
- The Greenland government criticized companies for advancing the drilling without proper permissions, delaying exploration until winter 2027.
- Greenland stopped issuing new oil and gas exploration licenses in 2021 due to environmental concerns.
- 80 Mile acquired its drilling license from White Flame Energy in 2024.
- Greenland Energy, a Texas-based partner with ties to President Trump’s administration, is funding and managing much of the project.
- The drilling area is believed to hold around $1 trillion worth of oil.
- President Trump’s public talk of buying Greenland has created political controversy overshadowing the project.
- Experts say Greenland wants to develop resources to improve its finances and support its bid for full statehood.
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