Tehran (HRNW)- Iranian Oil Minister Mohsen Paknejad has resigned from his post without disclosing the reasons for his departure, according to foreign news agencies and Iranian state media.
Iranian President Masoud Pezeshkian has accepted Paknejad’s resignation and appointed Hamid Bovard, Chief Executive of the state-owned National Iranian Oil Company, as acting Oil Minister.
Reports said Paknejad did not provide details about his decision to step down. The outgoing minister was quoted as saying that capital inflows from Iran’s oil exports were continuing and expressing hope that the trend would persist.
Paknejad had served as Iran’s Oil Minister since August 2024. Iran is a member of the Organization of the Petroleum Exporting Countries (OPEC), making the oil ministry a key component of the country’s economy and energy policy.
His resignation comes amid heightened regional tensions involving Iran, the United States and Israel, as well as concerns over rising global fuel prices linked to the potential disruption of shipping through the Strait of Hormuz and sanctions imposed on Iran.
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