Iran’s oil minister resigns amid export blockade and internal disputes
Iran’s oil minister, Mohsen Paknejad, has stepped down from his position, according to a statement from the president’s office. Hamid Bovard, the CEO of the National Iranian Oil Company, has been appointed as the acting Minister of Oil following Paknejad’s resignation.
The state broadcaster IRIB reported that Paknejad initially offered his resignation due to personal issues, but it was initially rejected by Iranian President Masoud Pezeshkian. However, the president has now accepted his departure, commending his efforts and sincere service.
Speculation in Iranian media suggests a dispute between the oil ministry and the Persian Gulf Petrochemical Industries Company may have contributed to Paknejad’s resignation, though this has not been officially confirmed.
The resignation comes amid a blockade on Tehran’s oil exports by the United States. The Strait of Hormuz, a crucial waterway through which a fifth of the world’s oil and LNG passes, has been a focal point of tensions in the Middle East. Tehran has been blocking the passage of commercial ships, while Washington has imposed a counterblockade on Iranian ports to prevent oil exports.