National Iranian Oil Company new CEO assigned

Source: NIOC

Iran's oil minister shook things up on Sunday as he assigned Ali Kardor as the Chief Executive Officer of National Iranian Oil Company (NIOC).

Iran's oil minister shook things up on Sunday as he assigned Ali Kardor as the Chief Executive Officer of National Iranian Oil Company (NIOC).

Bijan Zanganeh published a decree through which he assigned Ali Kardor as the managing director of NIOC, after Rokneddin Javadi resigned from the position earlier.

Before being assigned to the position, Kardor was serving as NIOC's deputy director of Investment and Financing.

Javadi has been given the position of deputy minister in the supervision on hydrocarbon resources of NIOC.

The changes by Oil Minister Bijan Zanganeh come after government officials expressed disagreement over how to handle foreign investment and what kind of terms should be offered to foreign companies. The differing opinions have contributed to delays in tendering new oil-development contracts, the Wall Street Journal reported.

Iran is currently selling 400,000 bbls a day to the EU. NIOC's marketing chief Mohsen Ghamsari reported in May that it plans to boost levels to 700,000.

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