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
Kingdom of Bonny important in the 15th century with the arrival of the Portuguese and the growth of the Atlantic slave trade. At its height of power, Bonny was one of the main entrepôts on the Slave Coast. Later the Dutch and then the British took control of the slave trade in the region, with the British renaming the port "Bonny". When the British passed an act to abolish the slave trade in 1807, the port turned to export of palm oil products, ivory and Guinea pepper. William Dappa Pepple I ascended the throne in 1830. He became increasingly incompetent, particularly following a