Iran’s Oil Minister Resigns Amid Economic Strain

Iran’s Oil Minister, Mohsen Paknejad, has resigned from his post, according to state media reports on Sunday, October 5, 2026. The announcement did not provide any specific reason for his departure. Hamid Bovard, the chief executive of the National Iranian Oil Company, has been appointed as the acting Oil Minister following the resignation’s acceptance by President Pezeshkian.

Paknejad had served as Iran’s Oil Minister since August 2024, a tenure marked by significant challenges, including the ongoing seven-month war between Iran and the U.S., which has placed considerable strain on the country’s economy. Despite these pressures, Paknejad had previously stated that oil revenues were still being received and would continue to do so.