Is Greenland’s Oil Really Worth It?

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Why This Matters

US companies are planning to drill for oil in eastern Greenland's Jameson Land basin, with estimated recoverable resources of 4 billion barrels, sparking renewed US geopolitical interest in the region.

Market Impact

Market impact analysis based on bullish sentiment with 80% confidence.

Sentiment
Bullish
AI Confidence
80%
Time Horizon
Short Term

Article Context

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Greenland’s long-dormant oil story has resurfaced, once again with US interests at the forefront. Greenland Energy and 80 Mile PLC plan to drill two onshore wells in eastern Greenland’s Jameson Land basin by the summer of 2026, the island’s first hydrocarbon drilling in more than a decade. Independent estimates put unrisked recoverable resources at around 4 billion barrels, with much larger oil-in-place figures cited by project partners. The return of American companies also coincides with renewed US geopolitical interest in Greenland,…

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Original article published by OilPrice.com on January 14, 2026.
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