Skip to content
Back to Guavy Wire
Commodities

Iran's Oil Minister Resigns; Acting Head Named Amid Constitutional Guidance

Instruments
Oil
Share

Iran's Oil Minister Mohsen Paknejad has resigned from his position, and President Masoud Pezeshkian has appointed Hamid Bovard as the acting head of the Ministry. According to a decree issued by the president, Article 135 of the Constitution guided the appointment, citing Bovard's commitment, competence, and executive record.

Paknejad resigned due to personal reasons, as stated by Seyyed Mehdi Tabatabaei, deputy for communications and information in the president's office. The request had been pending for a long time and was accepted by President Pezeshkian.

Hamid Bovard, the CEO of the National Iranian Oil Company, will hold responsibilities until a new minister is appointed. The acting period can last up to three months, during which the president can present his proposed candidate to the Parliament.

More on Commodities

Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

© 2026 Guavy Inc