Iran power grid expands

TEHRAN, Jan. 19 (UPI) -- The domestic power grid in Iran has increased seven-fold since the Islamic Revolution of 1979, Iranian Energy Minister Parviz Fattah said Monday.

Fattah said the capacity of the national energy grid produced just 7,024 megawatts of energy at the eve of the Islamic Revolution. Some three decades on, that figure stands at 49,517, the official Islamic Republic News Agency reported.

The energy minister said contracts with private-sector firms would bring another 27 power plants online in 2009 with the capacity to generate an additional 19,336 megawatts.

Iranian OPEC Governor Mohammad Ali Khatibi, meanwhile, said 21 Asian and European customers were notified of Iran's decision to cut oil sales.

"Twenty-one Asian and European companies have been told that there will be a cut in part of their oil intake level proportionate to their contracts," he said.

Khatibi said the move follows decisions by the Organization of Petroleum Exporting Countries to cut production quotas in an effort to control the precipitous decline in world oil prices.

Iran said in December it would cut oil production by 545,000 barrels per day starting in January.