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Iranian President in 4th Try to Name Oil Minister


Iranian President Mahmoud Ahmadinejad has nominated a veteran executive to head the country's all-important oil ministry, after his first three nominees failed to gain the backing of parliament.

In a televised session of parliament Sunday, the president named career oil official Kazem Vaziri-Hamaneh to the post. Lawmakers are to vote on the nominee next week.

Mr. Ahmadinejad's first three nominees - a politician, a Revolutionary Guards commander and an architect - were widely criticized for their lack of oil experience. Two were rejected by parliament, and a third withdrew his nomination.

Analysts say the months-long dispute has shaken investor confidence and hurt the Iranian economy, which derives 80 percent of its revenues from oil exports.

Some information for this report provided by Reuters and AFP.