New NIOC Chief Appointed

New NIOC Chief AppointedNew NIOC Chief Appointed

Iran's Oil Minister Bijan Namdar Zanganeh on Sunday appointed Ali Kardor as the new head of the state-run National Iranian Oil Company. Kardor, who previously served as NIOC's investment and financing director, will replace Rokneddin Javadi who had held the post since 2013, ISNA reported. Javadi will take on the role of deputy oil minister for supervision on hydrocarbon resources. Zanganeh also introduced NIOC's new board members who include his deputies for international affairs, development and engineering, legal and international affairs as well as NIOC's financial director. The reshuffle in Iran's largest and most important oil company comes as the lifting of sanctions against Iran in January has put the nation in a new direction for development. Iran is mending trade ties with the world and is consistently boosting crude production capacity to match its pre-sanctions output level of around 4 million barrels a day. The country has been firm in its pursuit of market share, refusing thus far to join a prospective pact of OPEC and non-OPEC producers to freeze production to shore up prices.