Iran’s New President Names Oil Minister in Cabinet Rollout

(Bloomberg) -- Mohsen Paknejad, a former deputy in the state-run National Iranian Oil Co., has been named as Iran’s new oil minister, the semi-official Iranian Students’ News Agency reported.

President Masoud Pezeshkian, who was elected last month, presented his proposed cabinet to parliament on Sunday. The list of nominated ministers has to be approved by lawmakers before they can take office.

Iran is a prominent member of the Organization of Petroleum Exporting Countries, producing more than 3 million barrels of oil a day in data compiled by Bloomberg.

Paknejad was an adviser to former oil minister Bijan Namdar Zanganeh, who served under Hassan Rouhani. Paknejad also held the position of acting managing director of the National Iranian Oil Co. from November 2018 until the start of the following year.