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 of Okoloma. Rulers after the kingdom became part of the British protectorate, then the independent Federation of Nigeria: Kingdom of Bonny The Kingdom of Bonny is a traditional state based on the town of Bonny in Rivers State, Nigeria. In the pre-colonial period, it was an important slave trading port, later trading palm oil products. During the 19th century the British became increasingly involved in the internal affairs of the kingdom, in 1886 assuming control under a protectorate treaty. Today the King of Bonny has a largely ceremonial role. The Ibani kingdom was a state in the South Atlantic Coast,