Paknejad, who took office in August 2024, had warned that oil revenues would keep flowing 'God willing', according to state‑run media.
His exit follows a seven‑month U.S.‑Iran conflict that has tightened sanctions. The conflict has rattled Tehran’s economy, forcing a reshuffle in the ministry.
President Ebrahim Raisi accepted the resignation and named National Iranian Oil Company chief Hamid Bovard as acting minister, the president’s office announced.
BOVARD, with a decade‑long tenure overseeing national oil production, will now steer the ministry amid intensified U.S. sanctions, with the next OPEC meeting slated for early November.