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 at Yenagoa and flows south to discharge into the Gulf of Guinea. The tidal flats of the river have a reticulate drainage pattern, with higher elevation at the edges of the flats than at the center. Discharge varies depending on the season and state of the tide: An 1893 navigation guide says of the river, The mouth of the river is protected by a sand bar, which in 1893 could not be crossed by vessels with more than draft. Akassa creek, inland from the mouth of the river, provided a route from the Brass river to the Nun river for