Greenland has postponed U.S. oil drilling
The Greenlandic authorities have forced the American company Greenland Energy to postpone its plans to drill for oil on the island. The company did not receive the necessary permits to carry out the work.
The project is located in the Jameson Land area in eastern Greenland. Local authorities stated that the proposed timeline does not allow for a proper assessment of the environmental and social impacts of the work. Drilling has been postponed until at least the winter of 2027.
As noted, just one week before Greenland Energy was set to drill its first wells, the government announced on Thursday, August 12, that “it is impossible to complete the necessary regulatory process and, consequently, obtain the required permits by the planned start of drilling.”
The statement emphasized that during negotiations, Greenlandic officials “expressed concern” that the timeline was too tight to assess the environmental and social impacts.
Authorities will have to decide whether to allow drilling in a protected wetland area that is home to rare birds and musk oxen. According to the government and the company, drilling cannot begin until winter 2027 at the earliest.
As noted, Greenland Energy, a company founded last year, announced plans to spend $60 million raised from investors to finance the drilling in exchange for a controlling stake in the project.
This was stated by the country’s government, according to The Guardian.
As a reminder, Greenland issued a warning to an American oil company over equipment on its coast.
Greenland has refused to hand over its minerals to the U.S.
