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
Nigerian Ports Authority and Port Harcourt ports, the initial law also gave it the responsibility of managing harbours and approaches to all ports in the country. By 1963 the firm had grown successfully, it was operating a cargo ship from Lagos to Port Harcourt and also began dredging the Bonny terminal for oil operations. In the same year, the firm issued a £4.3 million loan stock in London. From 1962 - 1968, under the Nigerian Development plan, the length of the quays was expanded and additional warehouses and cargo handling equipment were added. During the Nigerian Civil War that lasted from 1967-1969, only