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Iranian Oil Minister resigns

Published : Monday, 5 October, 2026 at 8:20 AM

Observer Online Report

Collected Photo

Iranian Oil Minister Mohsen Paknejad has announced his resignation citing personal reasons, Reuters reported on Sunday.

Mehdi Tabatabaei, Deputy Head of Communications at the Iranian Presidential Office, confirmed that President Masoud Pezeshkian accepted Paknejad's resignation.

Hamid Bovard, Chief Executive Officer of the state-run National Iranian Oil Company (NIOC), has been appointed as acting Oil Minister to oversee ministry operations. No specific cause was provided for the sudden departure.

Paknejad assumed office in August 2024 to guide oil policy for the key OPEC member nation. His resignation comes after nearly two years in office, amidst heightened international sanctions, domestic energy shortages, and persistent threats to oil exports.

The development comes as a surprise, occurring just hours after Paknejad delivered a televised address asserting that revenue from national oil sales was actively flowing into Iran's economy despite international blockades.

Political analysts suggest that the abrupt leadership change may stem from internal disagreements regarding US sanctions enforcement, supply disruptions, and the security of key oil infrastructure.

-SA

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Editor : Iqbal Sobhan Chowdhury

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