Trump-linked oil venture delays Greenland drilling plans to 2027

A Texas-based oil company with links to President Donald Trump has delayed plans to drill for oil in Greenland, after the Arctic island's government issued a "strong warning" to its joint venture partner for bringing equipment ashore without permission.

Greenland Energy Company, a Nasdaq-listed oil and gas exploration firm, said Wednesday that it was now working toward a targeted permit timeline for winter 2027, delaying its plans to try to unlock the hydrocarbon potential of the Jameson Land Basin on Greenland's east coast.

London-listed 80 Mile, the joint venture partner of Greenland Energy for the project, also confirmed the delay to drilling plans following talks with Greenlandic authorities.

"Operating in the Arctic requires patience, flexibility and a long-term perspective. We will use this time to refine our plans and deepen relationships with local communities, strategic partners and relevant authorities." — Robert Price, CEO, Greenland Energy Company

80 Mile holds the licenses and runs the permitting through its wholly owned subsidiary, White Flame Energy. The exploration licenses were granted before Greenland stopped issuing new licenses in 2021, citing the worsening climate crisis.

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The project delay comes two weeks after Greenland's government issued a sharp rebuke to White Flame Energy for failing to get permission from local authorities to bring drilling equipment to the island's east coast.

Greenland Energy Company and 80 Mile both confirmed to CNBC that the companies received a formal warning from Greenland's government.

Greenland's Government Issues a Warning

The notice from Greenland's government to 80 Mile concerned the landing of drilling equipment near the strategically important Nerlerit Inaat airport, a transport hub regarded as the gateway to northeast Greenland.

Ahead of the landing of equipment, Greenland Energy and 80 Mile said they had permission from and entered into a contract to lease storage space within an existing Greenland Airports storage area near the port but were unaware that this arrangement required a separate permit from the mineral resources authority.

Greenland's government said late last month that White Flame Energy did not have the necessary approvals before initiating this operation.

US special envoy to Greenland Republican Louisiana Governor Jeff Landry (C R) and Greenlandic mason and Trump supporter Joergen Boassen (C L) are pictured in Nuuk, Greenland, on May 20, 2026, on the sidelines of the Future Greenland business fair. — Christian Klindt Soelbeck | AFP | Getty Images

Greenland Energy and 80 Mile said in a joint statement that they "take the warning very seriously and note it in full." They added that they intend to "work closely" with Greenlandic authorities going forward.

80 Mile holds three licences for exploration and possible exploitation of oil in the Jameson Land Basin. Greenland Energy is funding the costs associated with managing the project.

Key Facts

• Greenland Energy and 80 Mile are now targeting winter 2027 for planned exploration drilling in Greenland's Jameson Land Basin.
• Greenlandic authorities issued White Flame Energy, 80 Mile's subsidiary, a formal warning after equipment was moved without the required approval.
• Greenland Energy has ties to figures associated with President Donald Trump and his administration, including board member Carol Craig and a documentary deal with "Dr. Phil" McGraw.