Iranian Oil Minister Mohsen Paknejad has resigned and been replaced on an acting basis by Hamid Bovard, the CEO of the National Iranian Oil Company, according to a statement from the Iranian president’s office.
The statement said that following the acceptance of Paknejad’s resignation, President Masoud Pezeshkian appointed Bovard as acting Minister of Oil by presidential decree.
Paknejad Resigns Over Personal Reasons
Iranian state television reported that Paknejad had initially submitted his resignation some time ago due to personal reasons, but the request was rejected at the time.
An official from the Iranian presidential office said Pezeshkian had asked Paknejad to remain in his position, but ultimately accepted his departure after the minister insisted on resigning.
The official added that the president praised Paknejad for his efforts and what he described as his sincere service following his decision to leave office.
Resignation Comes Amid Oil Export Restrictions
The minister’s departure comes amid continuing restrictions on Iran’s oil exports and heightened tensions surrounding the Strait of Hormuz, a crucial waterway for global energy supplies.
Before the latest escalation in the Middle East, a significant share of the world’s oil and liquefied natural gas shipments passed through the strategic waterway.
Iran has been restricting the passage of commercial vessels and has opened fire on ships it accuses of attempting to cross the strait without authorization.
The United States has responded with a counter-blockade of Iranian ports aimed at preventing Tehran from exporting its oil.
Earlier in the conflict, Tehran and other Iranian cities experienced periods of long queues at petrol stations as mounting restrictions placed additional pressure on the country’s economy.
