Iranian Oil Minister Mohsen Paknejad resigns

Iranian Oil Minister Mohsen Paknejad has resigned from his post, with the government initially giving no reason for his departure.

President Masoud Pezeshkian has accepted the resignation and appointed Hamid Bovard, chief executive of the state-run National Iranian Oil Company (NIOC), as acting oil minister.

Paknejad had served as Iran’s oil minister since August 2024.

His resignation comes as the country faces growing economic pressure amid the prolonged conflict with the United States and disruptions affecting the oil and energy sector.

Iranian state media quoted Paknejad as saying before the announcement that revenue from oil already sold was continuing to come in and would, God willing, continue.

Bovard, who heads NIOC, will now oversee the ministry on an interim basis while the government considers a permanent replacement.