Donald Trump's decision to cancel a visit to Denmark next month after the prime minister described his plan to buy Greenland as "absurd" has taken the Danish royal palace by surprise, a spokeswoman said.
After decades of estimates that Greenland may be sitting on oil reserves big enough to meet almost two years of European demand, the Arctic island is throwing in the towel.
Greenland Gas & Oil (GCO) has appointed a new non-executive director to its team. Dr Mark Bilsland has extensive experience in the E&P sector and is knowledge will be used to help progress the company’s Jameson project in onshore Greenland.
A trio of energy companies have handed back exploration permits for drilling in Western Greenland amidst the fall in oil prices. It has emerged that Statoil, GDF Suez and Dong Energy have decided against exploring in the region. John Finborud, director of GDF Suez Greenland, said the current drop in prices and increase in production expense meant the costs were too high.