Iran’s Oil Minister Mohsen Paknejad Resigns
Iran’s oil minister, Mohsen Paknejad, has resigned and been replaced by the country’s top oil executive, the president’s office says in a statement, amid a blockade on Tehran’s oil exports by the United States.
“Following the acceptance of Mohsen Paknejad’s resignation, Hamid Bovard, the CEO of the National Iranian Oil Company, has been appointed as acting Minister of Oil by a decree from the president,” says the statement carried by state broadcaster IRIB.
In a news bulletin on the minister’s resignation, state television aired an interview with an official from the Iranian presidential office who said Paknejad initially offered his resignation a while ago “due to personal issues,” but it was rejected.
Iranian President Masoud Pezeshkian asked Paknejad to continue in his post, but is now accepting his departure, as the minister has insisted on leaving, the official adds. He says that Pezeshkian “commended his efforts and sincere service” after accepting his decision to quit.
Some Iranian media have pointed to a dispute between the ministry and the Persian Gulf Petrochemical Industries Company as a possible factor. The report said this has not been officially confirmed.
The crucial Strait of Hormuz waterway has been the focal point of the Middle East war, as a fifth of the world’s oil and LNG passed through it before the US and Israel launched strikes against Iran in late February.
Tehran has been blocking the passage of commercial ships, firing on vessels it accuses of unauthorised crossings. Washington responded with a counterblockade of Iranian ports to prevent Tehran from exporting its oil.
Earlier in the war, the capital, Tehran and other Iranian cities at times saw queues build up at gas stations, as Washington choked the country’s economy. Oil Prices Ease as Gulf Exports Rebound, Ceasefire Uncertain
