Bonny Light oil oil produced in Angola. The Bonny Light is in high demand specifically by American and European refineries. It is therefore a major source of income for the oil-rich nation. The national government of Nigeria runs and takes part in the petroleum industry of Nigeria through the NNPC corporation. Libya's NOC also owns a 36% stake in NNPC which is valued at $112 Billion. Bonny Light oil Bonny Light oil is a high grade of Nigerian crude oil with high API gravity (low specific gravity), produced in the Niger Delta basin and named after the prolific region around the city of
Brass River River, had contributed towards building an iron church. It was opened on 9 October 1884 in presence of the congregation of 1,202 people. The congregation of St. Barnabas at Tawn, Brass River, had started to raise contributions for a similar iron church. At one time the town of Twon-Brass was the main port of the Nembe Kingdom, called by one historian "the Venice of the Niger Delta", and was dominant in the palm oil trade of the region. When the Royal Niger Company became an increasingly strong rival in the trade, the town's economy was severely damaged. In January 1895