---
title: "Greenland halts Trump-linked oil firm’s Arctic drilling plans"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2026-08-13T06:41:36+00:00"
modified: "2026-08-13T06:41:36+00:00"
date: 2026-08-13
canonical: "https://stockmark.it/greenland-forces-trump-linked-us-oil-firm-to-delay-drilling/"
category: "Business"
categories: ["Business", "Oil Production", "US"]
image: "https://i0.wp.com/stockmark.it/wp-content/uploads/2026/08/greenland-halts-trump-linked-oil-firm-s-arctic-drilling.png?fit=1536%2C1024&quality=80&ssl=1"
format: "news"
language: "en-GB"
---

# Greenland halts Trump-linked oil firm’s Arctic drilling plans

**Published:** August 13, 2026
**Author:** Stockmark.IT Website
**Categories:** Business, Oil Production, US
**Featured image:** ![Greenland halts Trump-linked oil firm's Arctic drilling plans](https://i0.wp.com/stockmark.it/wp-content/uploads/2026/08/greenland-halts-trump-linked-oil-firm-s-arctic-drilling.png?fit=1536%2C1024&quality=80&ssl=1)

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Authorities in Greenland have compelled a United States oil exploration company with ties to Donald Trump to postpone its planned drilling operations in the Arctic territory. This regulatory intervention directly contradicts earlier assertions by the US president’s envoy, who had suggested that American firms could be extracting crude oil from the region as early as next year. The decision marks a significant setback for Greenland Energy, which had anticipated commencing extraction activities much sooner.

Tensions regarding the project escalated on Greenland’s eastern coast after the company landed drilling equipment in July without securing the requisite permissions. This unauthorised arrival prompted a strong warning from the Greenlandic government. Just one week before Greenland Energy was scheduled to sink its initial wells into the tundra, officials stated on Thursday that the necessary regulatory processes could not be completed in time. Consequently, the approvals required to begin drilling were withheld.

During discussions with company representatives, Greenlandic officials expressed concerns that the proposed timetable was excessively tight. They argued that there was insufficient time to properly assess the potential environmental and social impacts of the operation. The authorities now face the complex task of deciding whether to sanction drilling within a protected wetland area. This habitat is home to rare bird species and muskoxen, which are vital to local hunters who depend on them for sustenance. Both the government and the company have indicated that drilling could not commence before the winter of 2027 at the earliest.

This revised timeline stands in stark contrast to predictions made by Jeff Landry, the Louisiana governor appointed by Trump as his envoy to Greenland. In May, Landry claimed that oil reserves beneath Greenland could help alleviate an energy crisis stemming from US military actions against Iran. He further stated that production could begin within ten months, aligning with his broader objective of integrating Greenland into the United States.

Robert Price, chief executive of Greenland Energy, acknowledged the delay while maintaining the company’s commitment to responsible exploration. He noted that the firm would use the interim period to refine its plans and strengthen relationships with local communities and authorities. Price had previously estimated that oil worth one trillion dollars could lie beneath the remote Jameson Land region.

The announcement triggered a sharp decline in shareholder confidence. Investors had hoped for a boost from presidential endorsement, but Greenland Energy’s stock fell by more than a third on Wednesday following the news. Price had earlier misled a community meeting by claiming permission had been granted to land equipment, contradicting the official stance of the Greenlandic government.

Greenland Energy’s British partner, 80 Mile, confirmed that the delay was necessary to complete permitting and regulatory approvals. 80 Mile holds exploration licences issued before Greenland halted new grants in 2021 due to climate concerns. Greenland Energy, established last year, plans to spend sixty million dollars raised from investors to fund the drilling in exchange for a majority stake.

Despite claims that the venture is unrelated to American annexation efforts, the company maintains multiple connections to the Trump administration. These include a documentary deal with Dr Phil, board membership by a US Navy veteran involved in missile defence planning, and a nine per cent shareholding acquired by Wall Street billionaire Kenneth Griffin.

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