TEHRAN- Iranian Oil Minister Bijan Namdar Zanganeh on Sunday appointed Masoud Karbasian, a former economy and finance minister, as the new managing director of the National Iranian Oil Company (NIOC), replacing Ali Kardor.

Karbasian will lead NIOC for the next two years, Tasnim news agency reported.
The ex-finance minister failed to secure the parliament’s vote of confidence in late August following an impeachment in the wake of skyrocketing prices in the country and devaluation of the local currency.
HJ/MG