Iran oil minister Bijan Namdar Zangeneh on Sunday appointed Masoud Karbasian, the former economy and finance minister, as the new managing director of National Iranian Oil Co. (NIOC) and deputy oil minister for two years replacing Ali Kardor, reported the news agency of Iran oil minister.
Earlier, Karbasian had been appointed as the main board member of NIOC for four years.
Karbasian failed to obtain Iran parliament’s vote of confidence in late August 2018 following an impeachment in the wake of skyrocketing prices in the country and devaluation of the local currency.