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
Enclaves of Forcados and Badjibo was trapezoid in shape, with the short side on the estuary of the Forcados River near the village of Gula, opposite Ogidiba, and stretching back 700m from the water's edge. Although not signed until 1903, the lease was deemed to run for thirty years from 28 June 1900 and the leased area remained under the law then in force in the British Southern Nigeria Protectorate. The Badjibo enclave (not to be confused with the place of the same name in Gabon) was located at the confluence of the Niger with the much smaller Doko, about 36km upstream from Jebba and