The Greenland government has issued a warning to an American oil exploration company, Greenland Energy, linked to former President Donald Trump. Despite lacking government permission, the Texas firm began sending drilling equipment to Greenland’s eastern region in July. The government has cautioned the company and its partner to seek approval from the Mineral Resources Authority for future operations.
A letter to shareholders dated August 6 stated that the company continues to work with Greenlandic authorities on permits. Following meetings with regulators, the firm decided to scale its project down to one well instead of two, calling it the ‘most responsible course of action’.
There have been no comments from the White House or Greenlandic and Danish authorities following inquiries by Newsweek.
Trump’s Involvement in the Greenland Energy Plan
Reports have shown connections between Greenland Energy and individuals linked to Trump. SEC filings revealed that Kenneth Griffin, a hedge fund manager and Trump critic, holds a 9.3 percent stake in the company. Despite his criticism, Griffin had donated $1 million to Trump’s inaugural committee.
Greenland Energy also appointed Carol Craig to its board. Her company, Sidus Space, was involved in Trump’s missile defense plans. The firm’s Chairman, Larry Swets, has previous ties to a businessman who claims a substantial donation to Trump’s White House project. While Swets denied close links to Trump, his wife’s social media posts indicate visits to Trump’s Mar-a-Lago club.
Television personality Dr. Phil McGraw was appointed to host a documentary on Greenland Energy’s drilling project. McGraw, known for serving on Trump’s Religious Liberty Commission, has supported Trump publicly.
Trump’s Interest in Greenland
Trump expressed interest in buying Greenland during his presidency, citing its geopolitical significance. In December 2024, he emphasized its importance to U.S. security. He suggested military action to acquire the territory, though the idea caused concern among European allies and U.S. lawmakers.
Though Trump retracted tariff threats to allies over Greenland, negotiations for a future deal remain ongoing between the U.S., Greenland, and Denmark. However, Trump continues to promote U.S. control of the territory as vital for national security.
Exploration and Drilling Prospects
Greenland is believed to harbor extensive oil and gas resources. The U.S. Geological Survey estimates that the Northeast Greenland region has about 31 billion barrels of oil equivalent. Trump’s envoy to Greenland, Jeff Landry, suggested the territory could significantly influence global oil exports.
Established last year, Greenland Energy is focused on exploring the Jameson Land Basin. The company describes it as one of the last undrilled basins, comparing its potential to major producing regions.
Despite environmental concerns leading Greenland to ban new oil and gas exploration licenses in 2021, existing licenses have allowed projects like Jameson to proceed. Greenland Energy plans to manage the venture’s logistics and provide $60 million in funding.
Future Steps and Challenges
Greenland Energy mentioned ongoing discussions with Greenlandic authorities are encouraging for drilling permit progress. Nonetheless, Greenland’s Ministry of Mineral Resources has clarified that no extraction permits exist. The project is still in exploration, with requirements such as studies and hearings pending.
Officials doubt Greenland Energy will secure the necessary permits by 2026 to initiate drilling or equipment transfers.
Contact editors John Fitzpatrick and Trevor Davies for further information.