35+ Lucrative Oil And Gas Business Ideas And Opportunities For 2017

35+ Lucrative Oil And Gas Business Ideas And Opportunities For 2017

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Inside the tower and packingThat is one of the basic oil and gas businesses to venture into. Here, you concentrate on supplying petroleum products like diesel, drilling chemicals, and a complete lot more to a client base that needs these things supplied on demand and on credit, to be repaid in 2 to six weeks.

You possibly can leverage clients like government hospitals, large factories, drilling and exploration companies, and an entire lot more to construct your supply chain network.

See Also: How To begin A Diesel Supply Business In Nigeria: The whole Guide

2). Petrochemical Refining:

Petrochemical products like Benzene, Ethylene, Ammonia, Toluene, and an entire lot more are used for a wide variety of purposes, and so, its large market base makes the manufacturing of petrochemical products a lucrative oil and gas business to venture into.

You could possibly either sell them locally or export to neighboring countries.

3). Haulage And Logistics:

This involves the movement of products and services within the oil and gas industry. If in case you have substantial capital, you can venture into this business by transporting petroleum products like AGO, DPK, and more with your tankers and other logistics vehicles you may have, on behalf of your clients .

With a wide network of suppliers and a typical charge per trip, you can begin up an oil and gas haulage and logistics service.

See Also: 8 Ways to cut back Transportation Costs in Nigeria — And Grow Your Profits

4). Equipment Leasing:

With a large capital and a wide network, you'll be able to purchase equipment which might be largely used in oil exploration, drilling, and a complete lot more, then lease them out to organisations who need them for brief-term or long-term uses.

5). Oil Drilling And Exploration:

That is an oil and gas business for prime net worth individuals. It is a risky venture, but could be extremely profitable. To venture into this, you’ll need an Oil Prospecting License (OPL), a really experienced and technical team, and high valued machinery to begin with.

See Also: The Crude Oil Marketing Business In Nigeria: Complete Guide For Buyers & Sellers

6). Fuel Importation:

Some petroleum marketers import refined petroleum products from refineries using their own vessels or the refinery’s vessels. When their petroleum products arrive, they’re stored in tank farms and then sold to local petroleum marketers like diesel suppliers, petrol stations, and an entire lot more.

These products are usually sold out fast to distributors because they are priced low.

When you have a large operating capital within the tune of $10 to $30 million dollars, you'll be able to venture into the importation of fuel for resale in Nigeria.

See Also: 10 Low Cost Business Ideas That can Make You Money From Anywhere In Africa

7). Oil Farm/Depot:

Imported fuel as stated above, are stored in tank farms. Most oil marketers don’t own tank farms, and in consequence, always must store their petroleum products in other tank farms.

With a large operating capital, you possibly can construct a tank farm for the only real purpose of leasing it out to oil marketers who herald petroleum products.

See Also: How To find Real Crude Oil Sellers And Buyers In Nigeria

8). Crude Oil Exportation:

Crude oil exportation is another oil and gas business to venture into. To successfully start this, you’d have to get an LPO from a refinery locally or abroad, you then must have the minimum cash value of the crude oil volume you intend to export, in your checking account.

With this cash value stored, the NNPC can ship the amount of crude oil you need to your client and reimburse you with a 1% value of the crude oil exported as profit.

In this instance, you don’t entirely use your own cash to export it. Instead, you need the minimum to be in your checking account, which you could possibly get with a bank loan as long as you may have a valuable guarantor.

See Also: The last word Guide To Starting A Crude Oil Brokerage Business (Crude Oil Selling) In Nigeria And Africa

9). Offshore Trading:

If you don’t have the rights to sail through the water ways of a special country, you'll be able to sell your petroleum products to shippers who've the licence to do so. Now you probably have the rights to ship, you might buy out another shipper’s merchandise at a fairly good price and complete the shipment yourself.

See Also: Tips on how to Do Market Research For Any Business Idea

10). Oil And Gas Radio Talk Show:

Hosting a radio talk show that discusses the newest oil and gas trends, investment opportunities, job opportunities, and a lot more is another oil and gas business to venture into.

11). Petrol Stations:

This is the retailing of petroleum products directly to motorists and several other others. The margins listed here are too much higher than selling the petroleum products at the depot to suppliers, and in consequence, most petroleum marketers who import Petroleum Refinery products also own tank farms and petrol stations, so they can maximise their profit margins.

See Also: How To purchase Crude Oil From Nigeria: Complete Guide For Buyers And Sellers

12). Kerosene Retail:

Kerosene retail is another oil and gas business to venture into. You possibly can either supply kerosenes to multiple small-scale retailers or you may have multiple locations where you sell the kerosenes directly to the end users.

See Also: 15 Profitable Small Business ideas for Beginners

13). Cooking Gas Wholesale And Retail:

Cooking gas is yet again another oil and gas business to venture into. Here, you might supply various small scale cooking gas retailers, or you may sell cooking gas directly by yourself.

14). Oil And Gas Brokerage:

By serving as an intermediary between two vendors in the oil and gas industry, you can earn a commission on every successful transaction executed. This is especially great in case you don’t immediately have a big or substantial capital to venture into the industry.

See Also: How To seek out Real AGO Sellers And Buyers In Nigeria

15). Oil And Gas TV Show:

Similar to a radio talk show, you can begin up an oil and gas TV show that talks concerning the industry trends, business opportunities, and job opportunities.

See Also: 7 Hot Industries for Starting a Business Right Now

16). Oil And Gas Magazine:

Oil and Gas magazines cover much more; including interviews, projections, opportunities, and many more details about running a business within the oil and gas industry.

In case you have some experience in the industry and have great writing skills, you can start up an oil and gas magazine.

17). Oil And Gas Maintenance And Servicing:

Oil and gas servicing is a very profitable niche in the oil and gas industry. The first role of organisations on this sector is help fix and maintain the facilities of other oil and gas businesses.

To start out up this venture, you’re expected to have spent many years in the oil and gas servicing industry, learnt a complete lot concerning the building and maintenance process, and will need to have built a robust network before you venture out by yourself.

18). Oil And Gas Blogging:

Oil and gas blogging is one way a contract writer can venture into the industry from his or her bedroom. You could possibly speak about what businesses within the industry are doing, small and huge business ideas people can make the most of within the industry, and the way they can be successful.

By doing this, you’ll profile yourself as knowledgeable and a consultant.

See Also: How To start A Blog — The complete Beginner Guide

19). Oil And Gas Recruitment Agency:

The oil and gas industry is a large one, and as such, running a recruitment agency that has a large focus on the industry can turnout to be a profitable venture.

By leveraging the dimensions of the industry, a recruitment firm started by an experienced HR personnel could be a terrific bet.

20). Oil And Gas Legal Services:

Some lawyers specialise largely on the oil and gas industry. These lawyers are majorly specialists, and build their careers around this industry.

If you’re lawyer, you possibly can venture into the oil and gas industry by providing legal services.

21). Oil Spillage Cleaning:

Oil spillage happens a lot by accidents involving tankers, storage facilities, refineries, drilling rigs, pipelines, and barges. It may be brought on by mistakes or by pure carelessness. Because of this, the necessity for an oil spillage cleaning service is widespread in the industry.

If you’re a professional on this field or not, you can either work for an oil spillage cleaning company, then learn more about it at an institute, and could then go on to further start up a cleaning service.

There are plenty of risks involved in this, in addition to large revenues, and as such, only highly experienced professionals are encouraged to venture into this business.

See Also: 5 Businesses You can start Tomorrow

22). Oil And Gas Consulting And Advisory:

To start an oil and gas consulting and advisory service, you’d have to have had a really wide experience within the industry with a great track record. After which you'll be able to then consult for brand spanking new businesses who are just starting out in the industry to ease their startup and growth phase.

23). Petroleum Refinery:

This oil and gas business is essentially executed by dollar billionaires and governments all over the world. It could cost as much as $8 billion dollars to setup a refinery, and so, this venture is extremely limited due to the capital requirements and political network the founder will need to have built.

25). Crude Oil Shipping Company:

Just as there are oil marketers who export crude oil based on an LPO received, there are also others who purchase large vessels and lease them to crude oil exporters. This business is very capital intensive as a vessel of this scale costs millions of dollars to buy.

If you have a big cash backing or a potentially large asset finance support from a bank, and a large network, you'll be able to venture into the crude oil shipping business.

See Also: 10+ Legal Requirements For An Import And Export Business in Nigeria

26). Refinery And Tank Farm Construction Company:

This is another highly specialised oil and gas business opportunity, as only a person who’s worked in this industry or has links to companies who can build this, can venture into the construction of refineries and tank farms for prospective clients.

But none-the-less, it's an especially profitable venture.

27). Lubricant Production:

Lubricants are widely purchased and used of their thousands every day. Mechanics use them everyday, and at several intervals, you’d have to purchase one for your vehicle.

You possibly can venture into the production of lubricants, grow a reputable brand name, and preferably market them through a network of petrol stations and mechanics.

To play it even safer, you may approach popular petrol stations that sell their very own lubricants and offer to manufacture for them at an excellent reduced cost. This way, you possibly can have everyone as your client, instead of trying to construct a brand name which will fail.

28). Procurement, Production, And Supply Of Gas Pipelines:

The procurement, production, and supply of oil and natural gas pipelines is another oil and gas business opportunity. It is reserved for individuals who've adequate capital and a wide network to venture into.

See Also: Looking for Brilliant Business Ideas? Do this 1 Thing First

29). Natural Gas Marketing:

First, you’d need to amass a licence just as several other oil and gas business opportunities require. Then you may serve as a middle man between the natural gas producers and the market that desires it delivered.

30). Sale Of Petroleum Tankers:

Buying and selling petroleum tankers is another oil and gas business opportunity to venture into. Several oil marketers go on to eventually purchase their own petroleum tankers, to allow them to stop losing a part of their profits to leasing tankers for their supplies.

You may venture into this business when you have a wide network of petroleum marketers who're looking to buy their very own tankers within the near future.

31). Manufacturing And Sale Of Cooking Gas Cylinders:

So many homes use cooking gas instead of kerosene to prepare their meals, and as such, are always using cooking gas cylinders for this purpose. The number of households that don’t use it remains in millions, and so, shows the potential opportunity within the industry.

You could possibly start a cooking gas cylinder manufacturing and/or retail business and market them to the populace or distribute to other smaller retailers.

See Also: 35+ Profitable Small Scale Manufacturing Business Ideas You can begin Today

32). Oil And Gas Pipeline Security:

Pipeline vandalization is a huge problem not only in Nigeria, but in many other parts of the world. You might setup a pipeline security company that monitors pipelines on a 24/7 basis to make sure they remain intact, thereby greatly reducing the damages done to them within the world your contract stipulates.

33). Petrol Station Building And Construction:

Just as building tank farms is usually a lucrative venture, building petrol stations for clients is equally another opportunity.

34). Oil And Gas Enterprise Software Application:

Technology companies are equally not left out as they will build tech solutions specifically targeting the oil and gas industry, and license the softwares to companies in the sector.

See Also: 10 Lucrative E-Commerce Business Ideas & Opportunities In Nigeria

35). Offshore Boat And Helicopter Transportation:

Going offshore usually requires the services of a ship or helicopter service. While some oil and gas companies own their very own boats, others don’t or are under-stocked, and as such, opens up a business opportunity for any individual with a lot of money and a wide network of companies needing more affordable offshore transportation services.

36). Offshore Medical Services:

Accidents and other unforeseen events occur lots offshore, and as such, a company called the "Flying Doctors" was founded by Dr Ola Orekunrin to address these issues, thereby proving there was a great opportunity on this sector. Today, this firm is growing exponentially, has been in existence for over 5 years, and continues to serve the industry.

If you’re a trained medical practitioner, you can venture into this business opportunity too.

37). Manufacturing And Supply Of Barrels Or Drums:

Barrels are utilized in measuring crude oil, and as such, an abundant market exists for it. You might go into the manufacturing or supply of barrels as a way to start out up within the oil and gas industry.

See Also: Top 3 Recycling Business Ideas And Opportunities In Nigeria

38). Manufacturing And Sale Of Oil And Gas Equipment:

During the setup phase of any oil and gas facility, numerous equipment are used in the method, and as such, a Request For Proposals (RFP) is usually sent out for a public bid on the project.

You can go into the provision of oil and gas equipment for organisations who're into large scale facility constructions.

39). Oil And Gas Training Institute:

Lastly, if you’ve been within the industry for a long time, you possibly can put all the knowledge you’ve acquired into action by setting up an oil and gas training institute.

You could advertise your services on the newspapers and in addition let your network and clients you’ve previously served know you'll be able to train and retrain their staffs to become world class engineers and employees.

What are your thoughts on these 35+ oil and gas business ideas and opportunities in Nigeria, Africa, or anywhere else all over the world? Let me know by leaving a comment below.

Brief description: That is one of the vital basic oil and gas businesses to venture into. Here, you concentrate on supplying petroleum products like diesel, drilling chemicals, and an entire lot more to a client base that needs these items supplied on demand and on credit, to be repaid in 2 to 6 weeks.
35+ Lucrative Oil And Gas Business Ideas And Opportunities For 2017

35+ Lucrative Oil And Gas Business Ideas And Opportunities For 2017

That is one of the vital basic oil and gas businesses to venture into. Here, you concentrate on supplying petroleum products like diesel, drilling chemicals, and an entire lot more to a client base that needs these items supplied on demand and on credit, to be repaid in 2 to 6 weeks.

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