SHANA -- Iranian Minister of Petroleum Bijan Zangeneh appointed Masoud Karbasian as the new CEO of the National Iranian Oil Company (NIOC) on Sunday.

Earlier today, the official had issued a decree appointing Mr. Karbasian as a member of the company�s board of directors of four years.

Masoud Karbasian is an Iranian economist who was minister of finance from August 2017 until August 2018. He previously held office as ex-officio vice minister of finance, heading Iran's Customs Administration.

Karbasian has replaced Ali Kardor as NIOC CEO who stepped down from his post because of retirement.