Iran’s Oil Minister Mohsen Paknejad has resigned for personal reasons, with Hamid Bovard, the chief executive of the state-owned National Iranian Oil Company, appointed as acting minister.
Mehdi Tabatabaei, communications deputy in President Masoud Pezeshkian’s office, said Paknejad had resigned “a long time ago”. His resignation was accepted at his insistence, according to state media.
Mr Tabatabaei said on Sunday: “With acceptance of Mohsen Paknejad’s resignation by Dr Pezeshkian, Hamid Bovard has been appointed as acting oil minister.”
Paknejad had held the post since August 2024, as a seven-month-old war between Iran and the United States placed further pressure on the country’s economy.
Before news of his departure emerged, Paknejad was quoted by state media as saying: “Revenues of the oil that we have sold are still coming and that will continue God willing.”
Iran’s oil exports are facing intense pressure from tightened US sanctions and a naval blockade. Oil sales remain a crucial source of government revenue, while Tehran has demanded that Washington lift sanctions on its oil exports and end the blockade as part of negotiations over reopening the Strait of Hormuz.
