Iran’s Oil Minister Mohsen Paknejad has resigned from his post, with National Iranian Oil Company (NIOC) chief Hamid Bovard appointed as acting minister, Iranian state media reported on Sunday.
The resignation comes at a difficult time for Iran’s energy sector, with the country facing intense US sanctions, restrictions on crude exports and disruption to oil shipments amid the ongoing conflict with Washington.
Why did Mohsen Paknejad resign?
Paknejad, who had served as Iran’s oil minister since August 2024, reportedly stepped down for personal reasons. Mehdi Tabatabaei, communications deputy in President Masoud Pezeshkian’s office, said the minister had submitted his resignation some time ago. According to state media, Pezeshkian accepted it after Paknejad insisted on leaving the position.
You Might Be Interested In
Following the resignation, Hamid Bovard, who was heading the state-owned NIOC, was appointed acting oil minister.
Who is Hamid Bovard?
Bovard is a veteran of Iran’s oil industry and has spent much of his career working in the sector, including in oilfield operations.
His appointment places an experienced energy executive at the ministry at a particularly challenging moment, as Tehran faces restrictions on crude sales, declining access to international markets and pressure on the financial channels used to receive oil revenues.
Comments
0 commentsNo comments yet — be the first.