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

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

Owner: Mannino

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chemical solvent storage tank yihai kerryThis is probably the most basic oil and gas businesses to venture into. Here, you concentrate on supplying petroleum products like diesel, drilling chemicals, and a whole lot more to a client base that needs this stuff supplied on demand and on credit, to be repaid in 2 to six weeks.

You'll be able to 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 start A Diesel Supply Business In Nigeria: The complete Guide

2). Petrochemical Refining:

Petrochemical products like Benzene, Ethylene, Ammonia, Toluene, and a whole lot more are used for a large 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 might either sell them locally or export to neighboring countries.

3). Haulage And Logistics:

This involves the movement of products and services in the oil and gas industry. If in case you have substantial capital, you'll be able to 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 start up an oil and gas haulage and logistics service.

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

4). Equipment Leasing:

With a big capital and a wide network, you can purchase equipment which are largely used in oil exploration, drilling, and a whole lot more, then lease them out to organisations who need them for short-term or long-term uses.

5). Oil Drilling And Exploration:

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

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

6). Fuel Importation:

Some petroleum marketers import refined Petroleum Refinery products from refineries using their own vessels or the refinery’s vessels. When their petroleum products arrive, they’re stored in tank farms after which 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.

You probably have a large operating capital within the tune of $10 to $30 million dollars, you may venture into the importation of fuel for resale in Nigeria.

See Also: 10 Low Cost Business Ideas That may 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 because of this, 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 must get an LPO from a refinery locally or abroad, you then should 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 volume of crude oil you'll want 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 personal cash to export it. Instead, you need the minimum to be in your bank account, which you can get with a bank loan so long as you will 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:

In case you don’t have the rights to sail through the water ways of a special country, you can sell your petroleum products to shippers who've the licence to take action. Now if in case you have the rights to ship, you might buy out another shipper’s merchandise at a reasonably good price and complete the shipment yourself.

See Also: Methods to Do Market Research For Any Business Idea

10). Oil And Gas Radio Talk Show:

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

11). Petrol Stations:

That is the retailing of petroleum products on to motorists and a number of other others. The margins listed here are so much higher than selling the petroleum products at the depot to suppliers, and because of this, most petroleum marketers who import petroleum 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 can either supply kerosenes to multiple small-scale retailers or you may have multiple locations where you sell the kerosenes on to the tip 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 possibly can supply various small scale cooking gas retailers, or you'll be able to 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 possibly can earn a commission on every successful transaction executed. This is especially great in the event you don’t immediately have a big or substantial capital to venture into the industry.

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

15). Oil And Gas TV Show:

Just like a radio talk show, you can start up an oil and gas TV show that talks about 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 a lot more; including interviews, projections, opportunities, and lots of more information about running a business within the oil and gas industry.

When you've got some experience within 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 really profitable niche within the oil and gas industry. The primary role of organisations on this sector is help fix and maintain the facilities of other oil and gas businesses.

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

18). Oil And Gas Blogging:

Oil and gas blogging is a technique a freelance writer can venture into the industry from his or her bedroom. You might speak about what businesses in the industry are doing, small and enormous business ideas people can make the most of in 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 out A Blog — The entire 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 concentrate on the industry can turnout to be a profitable venture.

By leveraging the size of the industry, a recruitment firm started by an experienced HR personnel can be an excellent 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 can venture into the oil and gas industry by providing legal services.

21). Oil Spillage Cleaning:

Oil spillage happens too much by accidents involving tankers, storage facilities, refineries, drilling rigs, pipelines, and barges. It can be caused by mistakes or by pure carelessness. As a result, the need for an oil spillage cleaning service is widespread within the industry.

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

There are a lot of risks involved on this, as well as large revenues, and as such, only highly experienced professionals are encouraged to venture into this business.

See Also: 5 Businesses You can begin Tomorrow

22). Oil And Gas Consulting And Advisory:

To begin an oil and gas consulting and advisory service, you’d must have had a very wide experience within the industry with a great track record. After which you'll then consult for brand spanking new businesses who're just starting out within 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 world wide. It could cost as much as $8 billion dollars to setup a refinery, and so, this venture is very 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 may be 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 an individual who’s worked in this industry or has links to companies who can build this, can venture into the development of refineries and tank farms for prospective clients.

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

27). Lubricant Production:

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

You may 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 can approach popular petrol stations that sell their own lubricants and offer to manufacture for them at an excellent reduced cost. This fashion, you can have everyone as your client, instead of trying to construct a brand name that may 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 have adequate capital and a large network to venture into.

See Also: On the lookout for Brilliant Business Ideas? Do that 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 possibly can function a middle man between the natural gas producers and the market that wants 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 very 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've got a large network of petroleum marketers who are looking to purchase their own tankers in 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 in the industry.

You may 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 large problem not only in Nigeria, but in lots of other parts of the world. You can 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 can be a lucrative venture, building petrol stations for clients is equally another opportunity.

34). Oil And Gas Enterprise Software Application:

Technology companies are equally not disregarded as they can build tech solutions specifically targeting the oil and gas industry, and license the softwares to companies within 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 boat or helicopter service. While some oil and gas companies own their own boats, others don’t or are under-stocked, and as such, opens up a business opportunity for any individual with some huge cash and a large network of companies needing more affordable offshore transportation services.

36). Offshore Medical Services:

Accidents and other unforeseen events occur loads offshore, and as such, a company called the "Flying Doctors" was founded by Dr Ola Orekunrin to address these issues, thereby proving there was an incredible opportunity in 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 possibly 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 up in 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:

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

You can go into the supply of oil and gas equipment for organisations who are into large scale facility constructions.

39). Oil And Gas Training Institute:

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

You might advertise your services on the newspapers and also let your network and clients you’ve previously served know you can 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 around the globe? Let me know by leaving a comment below.

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

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

This is one of the crucial basic oil and gas businesses to venture into. Here, you focus on supplying petroleum products like diesel, drilling chemicals, and an entire lot more to a client base that needs this stuff supplied on demand and on credit, to be repaid in 2 to six weeks.

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