Greenland warns Trump-linked firm over unauthorized drilling preparations

Published Aug 10, 08:00 PM UTC

A Texas-based oil company, Greenland Energy, chaired by Trump-linked businessman Larry Swets Jr., is moving drilling equipment in Greenland for a planned oil campaign in the Jameson Land Basin, despite lacking authorization from Greenland authorities. The Greenland government issued a strong warning to the licensee, 80 Mile Plc, stating that all future logistical moves must be approved beforehand. The project, which could be Greenland's first major oil drilling in years, faces regulatory hurdles and extreme Arctic costs. Greenland abandoned oil exploration in 2021 after decades of failed attempts, citing environmental concerns. Greenland Energy plans to fund up to two exploration wells, but after discussions with officials, it agreed to focus on one well during the 2026-2027 winter season. The company says it is advancing preparations while awaiting required approvals.