Iranian Oil Minister Mohsen Paknejad resigns — The Hindu

Iranian Oil Minister Mohsen Paknejad has resigned. Hamid Bovard, the CEO of the state-owned National Iranian Oil Company, has been appointed acting minister.

President's decision

As The Hindu reports, Iranian state media did not name the reasons for Paknejad's resignation. According to them, Iranian President Masoud Pezeshkian accepted Paknejad's resignation and appointed Bovard as acting head of the Oil Ministry.

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Work in government

Paknejad had served as oil minister since August 2024. Iran is a member of the Organization of the Petroleum Exporting Countries.

Before reports of his resignation, Paknejad told state media that revenue from oil already sold continues to arrive. According to the publication, the resignation came amid a seven-month war between Iran and the United States, which is increasing pressure on the Iranian economy.