Iran's oil minister resigns for personal reasons, state media reports

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 hasput 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 saidearlieron Sunday, according to state media. Before news of his resignation, Paknejad was ⁠quoted by state media as saying "revenues of the oil ⁠that we ⁠have sold are still coming and that will continue God willing".