I arrived in the upstream, green but keen, in 1985. . . . 

While still a novice in the upstream, I was involved in the development of an oil field in the North Sea. We arranged to finance our share of the development costs with a loan from one of the big European banks. . . .

From 1986 until about 2000, the oil industry lived with weak prices. When the global oil price dropped to around $14, as it did several times, this precipitated the cancellation of projects and a round of redundancies. . . .

In 1986 the oil price dropped dramatically, at one stage falling below $8 a barrel. . . .

The lobby of the Homa Hotel in Tehran is a busy thoroughfare and meeting place. In Iran you often have time on your hands, and this is a good place to sit, take tea with friends, do business, and watch the world go by. . . .