ChevronTexaco has shut down its 140,000 barrels per day of oil production facility and declared force majeure on its oil exports because of ethnic violence in the Niger Delta.

The company said the shutdown was a precautionary measure to ensure worker safety.

TotalFinaElf also shut its oil production and evacuated workers from oilfields around the Escravos export terminal by helicopter.

Meanwhile, in the Middle East, oil cartel OPEC said it was suspending its production quotas to make up any shortfalls resulting from the war in Iraq. OPEC has called on members to take full advantage of their crude-extracting capacities beyond each nation's established quotas.

Iraq produces approximately 2 million barrels a day.