Iran Appoints New Oil Minister, Warns Reserves Are Limited

Iran has appointed a new oil minister, Mohsen Paknejad, following a vote of confidence in parliament on Wednesday, Azerbaijan’s Trend news agency reported.  Paknejad, an oil ministry veteran who previously held the position of deputy oil minister from 2018 to 2021, took the podium on Wednesday to bemoan the state of affairs in Iran’s oil industry.  The new oil minister called on Tehran to boost production, warning that fossil fuel reserves will remain limited over the next two decades, without significant development efforts. …