Speaking Saturday at a meeting of the Oil Ministry's Deputy Ministers Council, Oil Minister Mohsen Paknejad reviewed updates from the heads of the National Iranian Oil Company and the National Iranian Gas Company on reconstruction efforts at war-damaged refineries.

Paknejad said all sectors of the oil industry must work in close coordination to ensure the successful execution of reconstruction plans, adding that progress to date has been encouraging.

He emphasized the importance of maintaining close oversight of the projects and called for regular follow-up meetings in the coming weeks. Progress reports, he said, should continue to follow a project management framework to support effective monitoring, timely decision-making and the resolution of potential obstacles.

The minister also reviewed the latest developments in the reconstruction of a refinery damaged during the third imposed war and issued directives aimed at accelerating the work.

Deputy ministers attending the meeting presented updates on their respective areas of responsibility and thanked Paknejad for his continued support and oversight of the reconstruction program.

Experienced Leadership Urged for Oil Pension Fund

The meeting also included a ceremony marking the appointment of the new chairman of the board of trustees of the Oil Industry Pension Funds.

Paknejad underscored the importance of appointing experienced oil industry executives to oversee the pension funds, saying the board chairman must have the confidence of both active employees and retirees.

Referring to the appointment of Sekhavat Asadi, the minister said the selection had been well received across the oil industry and pledged support for the new board's efforts to safeguard the interests of employees and retirees.

He said one of the primary criteria for selecting the chairman was prior experience in the oil industry. Given legal restrictions on reemploying retirees, the position had to be filled by a reputable, capable and trusted manager from among active industry personnel.

Paknejad also praised former board chairman Hossein Hosseinzadeh, saying his tenure helped build and maintain trust between the pension funds and their stakeholders.

He said Asadi's appointment reflects the confidence of the oil industry's workforce and retirees and noted that the new chairman faces significant responsibility in protecting their legitimate interests. Paknejad expressed confidence that the new board would establish a strong foundation for advancing the long-term interests of the pension funds' beneficiaries.

Focus on Sustainable Revenue

In his remarks, Asadi thanked the oil minister for his confidence and described the new role as a significant responsibility.

He said the minister had emphasized during their first meeting that the pension funds' assets belong to their beneficiaries and must be managed with the highest level of care.

Asadi noted that about 110,000 people receive monthly services from the Oil Industry Pension Funds and called for continued support from the ministry's leadership to achieve the fund's objectives.

He said all financial decisions should be guided by sound economic principles and made with the best interests of retirees in mind.

Highlighting the oil sector's economic potential, Asadi said the industry offers substantial opportunities to generate sustainable revenue streams that can strengthen the pension funds' long-term financial position.

Former Chairman Highlights Welfare Measures

Former board chairman Hossein Hosseinzadeh also thanked the oil minister for his support and credited the ministry with maintaining stable fuel supplies during two winter seasons and two wartime periods, saying the country experienced no gasoline shortages.

He cited several major welfare initiatives implemented with the minister's backing, including the elimination of the 5% medical treatment deductible, full implementation of Article 10 for employees and retirees, and the payment of 670 trillion rials in outstanding legal claims last year, representing an increase of more than 60% compared with 1403.