- Former BP CEO and current Cuadrilla chairman John Browne says he does not advocate Royal Dutch Shell’s (RDS.A, RDS.B) Arctic drilling plans, believing the costs and reputation risk are not worthwhile.
- Arctic drilling "is very expensive, and I would always go for hydrocarbons which have less cost and effort involved... you’ve got to be careful what you do, and cost includes your long-term reputation," Browne tells the BBC in an interview.
- Oil company boards should include members with a wide range of social backgrounds so the firms keep their “social license” to operate, Browne adds.
- Shell CEO Ben van Beurden says that although drilling in the Arctic carries an "increased risk profile" because of the fragile environment, the reservoir Shell is exploring is "from a technical perspective relatively easy."
- Arctic drilling "is a bit of personal journey I had to go through as well and many others associated with the project - we believe that we can responsibly explore for hydrocarbons in Alaska," van Beurden tells the BBC.