Iran's Oil Minister, Mohsen Paknejad, has resigned, and Hamid Bovard, CEO of the state-owned National Iranian Oil Company (NIOC), will assume the duties of acting minister, state media reported on Sunday, without giving a reason for the resignation.
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Mohsen Paknejad served as Minister of Petroleum for thesince August 2024 and is resigning as the seven-month war between Iran and the U.S. puts pressure on the country’s economy.
“Following Masoud Pezeskian’s acceptance of Mohsen Paknejad’s resignation, Hamid Bovard was appointed acting Minister of Petroleum,” state media reported, citing an official from the president’s office.
Iran’s oil minister resigns, no reason given https://t.co/N0T5UCr57f https://t.co/N0T5UCr57f
— Reuters (@Reuters) October 4, 2026
Shortly before his resignation was announced, Paknejad had stated, according to state media: “The revenue from the oil we have sold continues to flow in, and, God willing, this will continue.”
Source: Proto Thema
