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Iran's Oil Minister Resigns Amid US War; Hamid Bovard Named Acting Minister
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Moneycontrol•05-10-2026, 06:49
Iran's Oil Minister Resigns Amid US War; Hamid Bovard Named Acting Minister
- •Iran's Oil Minister Mohsen Paknejad has resigned for personal reasons, with Hamid Bovard appointed as acting minister.
- •Paknejad's resignation comes as the seven-month-old war between Iran and the US has pressured the country's economy.
- •Hamid Bovard, chief executive of the National Iranian Oil Company, will serve as the acting oil minister.
- •President Masoud Pezeshkian accepted Paknejad's resignation at his insistence, according to Mehdi Tabatabaei.
- •Paknejad had previously stated that oil revenues were still coming in despite the ongoing conflict.
Key Questions Answered
Following the resignation of Mohsen Paknejad, Hamid Bovard, who serves as the chief executive of the government-owned National Iranian Oil Company, was appointed as the acting oil minister by President Masoud Pezeshkian.
Mohsen Paknejad resigned from his post for personal reasons, a decision that was submitted a long time ago and ultimately accepted by President Masoud Pezeshkian at Paknejad's insistence.
Mohsen Paknejad had been serving as the oil minister of the OPEC member country since August 2024 before stepping down during the ongoing war between Iran and the US.
