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 of Fernando Po, concluded a treaty with the kings of the territories adjacent to the Brass River. They agreed to stop the slave trade, and agreed on pilots' fees, duties and other terms of trade. Hutchinson reported of a visit to Brass on 9 July 1857, In 1847 the new partnership of Stuart and Douglas bought a 282-ton barque, the "Adriana", and sent it to the Brass River. Their agent was told to offer the local chiefs a share of the profits from palm oil trading on condition they stopped trading in slaves. This was the start of a lucrative