Iran's Oil Minister Mohsen Paknejad has resigned for personal reasons, and Hamid Bovard, chief executive of the government-owned National Iranian Oil Company, will be acting minister, state media said on Sunday.
Mohsen Paknejad, oil minister of the OPEC member country since August 2024, resigned as the seven-month-old war between Iran and the US has put pressure on the country's economy.
Mehdi Tabatabaei, communications deputy in the president's office, told state TV that Paknejad resigned for personal reasons "a long time ago" and his resignation was accepted by President Masoud Pezeshkian at Paknejad's insistence.
"With acceptance of Mohsen Paknejad's resignation by Dr. Pezeshkian, Hamid Bovard has been appointed as acting oil minister," Tabatabaei said earlier on Sunday, according to state media.
Before news of his resignation, Paknejad was quoted by state media as saying: "The revenues of the oil that we have sold are still coming and that will continue, God willing."
