Iran’s New Oil Minister Vows to Boost Production Despite US Blockade

Iran’s newly appointed Acting Minister of Petroleum, Hamid Board, has vowed to boost oil production despite a complete US blockade. In his first interview since taking office, Board told Fars News Agency that the ministry will implement “new strategies” to sustain exports amid what he described as a “full-scale economic war.” He emphasized efforts to maximize production and maintain optimal export levels for the country.

Board’s comments come as the US maritime blockade against Iran enters its second round, effectively halting crude exports. US Treasury Secretary Scott Bessent confirmed on October 1, 2026, that no crude oil cargoes were loaded onto tankers in September. Data from Bloomberg, Kpler, and Vortexa supported this claim, showing zero crude oil loadings at Iranian ports during the month.

The leadership change at the Ministry of Petroleum follows the resignation of Mohsen Paknejad. President Masoud Pezeshkian accepted Paknejad’s resignation on Sunday and appointed Board as the acting minister. Just before his resignation was announced, Paknejad had asserted that oil revenues were still being collected and that the process would continue uninterrupted.

Board pledged that Iran’s petroleum infrastructure would collaborate with other state sectors to “inflict a severe defeat on the enemies.” His remarks underscore the government’s determination to overcome the economic challenges posed by the US blockade.