Greenland Govt Will Be Cautious About Awarding Offshore Oil Licenses

- March 27th, 2013

Reuters reported that Greenland’s incoming mining and oil minister, Jens Erik Kirkegaard, said that while the country has enough number of oil licenses, it will be more careful about giving new oil permits which could mean a more difficult investment climate for international oil companies.

Reuters reported that Greenland’s incoming mining and oil minister, Jens Erik Kirkegaard, said that while the country has enough number of oil licenses, it will be more careful about giving new oil permits which could mean a more difficult investment climate for international oil companies.

As quoted in the market news:

We are going to be more cautious in the awarding of offshore oil licenses,” Kirkegaard added. “We will honour existing contracts. There will be no complete lockout.

Click here to read the full Reuters report.

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