Iran’s oil minister resigns…no official explanation

Iranian Oil Minister Mohsen Paknejad has resigned, with National Iranian Oil Company chief Hamid Bovard appointed acting minister, state media reported Sunday.

According to Reuters, state media did not provide a reason for Paknejad’s resignation, which comes as Iran’s seven-month war with the United States pressures the country’s economy.

“With acceptance of Mohsen Paknejad’s resignation by Dr. Pezeshkian [the country’s president], Hamid Bovard has been appointed as acting oil minister”, state media quoted an official at the president’s office as saying.

Paknejad had served as oil minister of the OPEC member since August 2024.

Shortly before his resignation was announced, Paknejad sought to reassure the public about oil income.

“revenues of the oil that we have sold are still coming and that will continue God willing”, he said.

Bovard will oversee the ministry pending the appointment of a permanent successor.