DUBAI, Iran’s Oil Minister Mohsen Paknejad has resigned, with state media reporting that President Masoud Pezeshkian accepted his resignation on Sunday.
Hamid Bovard, chief executive of the state-owned National Iranian Oil Company (NIOC), has been appointed acting oil minister, according to an official at the president’s office cited by Iranian state media.
The government did not provide a reason for Paknejad’s resignation.
Paknejad had served as Iran’s oil minister since August 2024. His departure comes as the country faces continued economic pressure amid the ongoing conflict with the United States.
Bovard Takes Temporary Charge of Oil Ministry
Bovard will lead the ministry while the government considers its next steps. He has been heading NIOC, giving him experience in Iran’s oil production and export sector.
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The oil ministry plays a central role in Iran’s economy. The country is a member of OPEC, while oil revenues remain an important source of government income.
The leadership change comes at a sensitive time for Iran’s energy sector. The conflict has created additional pressure on oil exports and the wider economy.
Paknejad Says Oil Revenues Continue
Shortly before his resignation became public, Paknejad was quoted by state media as saying that revenues from oil already sold were still coming in.
He also said those revenues would continue, according to the report.
His comments came as Iran faces uncertainty over its energy exports and broader economic conditions.
The resignation announcement did not indicate whether the change was directly linked to those economic pressures. No official explanation for Paknejad’s departure has been released.
