Iran's Oil Minister Paknejad resigns; Pezeshkian appoints Hamid Bovard acting minister

October 4, 2026 at 11:17 PM1 min

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Iranian Oil Minister Mohsen Paknejad has resigned, and President Masoud Pezeshkian accepted the resignation, state media reported on Sunday. Pezeshkian appointed Hamid Bovard, chief executive of the National Iranian Oil Company, as acting oil minister. The change comes as the war with the US adds pressure on Iran's economy, oil exports and revenues.

Key Facts

Mohsen Paknejad had served as Iran's oil minister since August 2024.
President Masoud Pezeshkian accepted Paknejad's resignation and appointed Hamid Bovard as acting oil minister.
Hamid Bovard is chief executive of the state-owned National Iranian Oil Company (NIOC).
State media did not give a reason for Paknejad's resignation.
Shortly before news of his resignation emerged, Paknejad said oil revenues were still coming in and would continue.

Resignation Announcement

Iranian Oil Minister Mohsen Paknejad resigned, and President Masoud Pezeshkian accepted the resignation, state media reported on Sunday. Mehdi Tabatabai, deputy head of communications at the Iranian Presidential Office, confirmed the resignation. Paknejad had served as oil minister since August 2024. State media did not give a reason for his resignation or indicate whether it was linked directly to economic pressures from the war.

Acting Minister Appointment

Pezeshkian appointed Hamid Bovard as acting oil minister. Bovard is chief executive of the state-owned National Iranian Oil Company (NIOC). Bovard will oversee the ministry on an acting basis as Iran navigates mounting economic and energy challenges.

Economic Pressure Context

The change comes as the war with the US adds pressure on Iran's economy, oil exports and revenues. Shortly before news of his resignation emerged, Paknejad sought to reassure the public about oil earnings. Paknejad said: "Revenues of the oil that we have sold are still coming and that will continue God willing."