35+ Profitable Oil And Fuel Business Ideas And Opportunities For 2017
The oil and gasoline business is one of the glorified enterprise sectors in Nigeria and Africa. It has created extra billionaires than virtually every other sector, and anybody who runs any type of business in it is basically perceived to be a millionaire or billionaire of their nations.
While the oil and gasoline industry is certainly very worthwhile, most individuals don’t know there are such a lot of enterprise roles they’ll play in it, irrespective of the amount of money they have to start up with.
If you’ve had a craving for starting a enterprise within the oil and fuel trade however don’t know how or what to begin with, listed here are 35+ profitable oil & gas enterprise concepts in Nigeria or Africa:
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1). Petroleum Products Procurement And Supplies:
That is some of the fundamental oil and gasoline businesses to venture into. Right here, you deal with supplying petroleum merchandise like diesel, drilling chemicals, and a complete lot extra to a shopper base that needs these things provided on demand and on credit score, to be repaid in 2 to 6 weeks.
You’ll be able to leverage shoppers like authorities hospitals, large factories, drilling and exploration companies, and a whole lot extra to construct your supply chain network.
See Also: How To begin A Diesel Supply Business In Nigeria: The complete Information
2). Petrochemical Refining:
Petrochemical products like Benzene, Ethylene, Ammonia, Toluene, and a whole lot more are used for a wide variety of purposes, and so, its giant market base makes the manufacturing of petrochemical merchandise a profitable oil and gasoline enterprise to venture into.
You might either sell them regionally or export to neighboring countries.
3). Haulage And Logistics:
This involves the movement of products and providers in the oil and gasoline business. When you have substantial capital, you may venture into this business by transporting petroleum products like In the past, DPK, and extra along with your tankers and other logistics vehicles you might have, on behalf of your purchasers .
With a large network of suppliers and a normal charge per trip, you can start up an oil and fuel haulage and logistics service.
See Also: Eight Ways to scale back Transportation Prices in Nigeria — And Grow Your Earnings
4). Equipment Leasing:
With a large capital and a large community, you possibly can purchase equipment that are largely utilized in oil exploration, drilling, and a complete lot more, then lease them out to organisations who want them for brief-term or long-term makes use of.
5). Oil Drilling And Exploration:
That is an oil and gasoline business for prime web worth individuals. It’s a dangerous venture, but could be extraordinarily profitable. To venture into this, you’ll need an Oil Prospecting License (OPL), a really skilled and technical group, and high valued equipment to start out with.
See Additionally: The Crude Oil Advertising Enterprise In Nigeria: Complete Information For Consumers & Sellers
6). Gasoline Importation:
Some petroleum entrepreneurs import refined petroleum products from refineries utilizing their own vessels or the refinery’s vessels. When their petroleum products arrive, they’re stored in tank farms after which sold to native petroleum marketers like diesel suppliers, petrol stations, and an entire lot extra.
These merchandise are often offered out fast to distributors as a result of they are priced low.
You probably have a large working capital within the tune of $10 to $30 million dollars, you possibly can enterprise into the importation of gas for resale in Nigeria.
See Additionally: 10 Low Value Enterprise Concepts That can Make You Money From Anyplace In Africa
7). Oil Farm/Depot:
Imported fuel as stated above, are stored in tank farms. Most oil marketers don’t personal tank farms, and as a result, at all times must store their petroleum merchandise in other tank farms.
With a big working capital, you may construct a tank farm for the only purpose of leasing it out to oil marketers who herald petroleum merchandise.
See Also: How To find Actual Crude Oil Sellers And Patrons In Nigeria
8). Crude Oil Exportation:
Crude oil exportation is another oil and gas business to enterprise into. To efficiently begin this, you’d have to get an LPO from a refinery locally or abroad, then you will need to have the minimum money value of the crude oil quantity you intend to export, in your bank account.
With this cash worth stored, the NNPC can ship the quantity of crude oil it’s worthwhile to your consumer and reimburse you with a 1% worth of the crude oil exported as revenue.
In this occasion, you don’t completely use your individual cash to export it. As a substitute, you need the minimum to be in your checking account, which you may get with a bank loan so long as you’ve gotten a precious guarantor.
See Also: The ultimate Guide To Beginning A Crude Oil Brokerage Business (Crude Oil Selling) In Nigeria And Africa
9). Offshore Buying and selling:
In case you don’t have the rights to sail by way of the water ways of a distinct country, you’ll be able to promote your petroleum merchandise to shippers who have the licence to do so. Now in case you have the rights to ship, you could buy out one other shipper’s merchandise at a fairly good value and full the shipment your self.
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10). Oil And Gas Radio Speak Present:
Hosting a radio talk present that discusses the newest oil and gas trends, investment alternatives, job alternatives, and a lot more is another oil and gas business to enterprise into.
11). Petrol Stations:
That is the retailing of petroleum products on to motorists and several other others. The margins listed here are rather a lot greater than promoting the petroleum products at the depot to suppliers, and as a result, most petroleum marketers who import petroleum products also personal tank farms and petrol stations, so they can maximise their profit margins.
See Additionally: How To buy Crude Oil From Nigeria: Complete Guide For Consumers And Sellers
12). Kerosene Retail:
Kerosene retail is one other oil and gasoline business to enterprise into. You can either supply kerosenes to multiple small-scale retailers or you would have multiple areas where you promote the kerosenes directly to the tip users.
See Also: 15 Profitable Small Business ideas for Rookies
13). Cooking Gasoline Wholesale And Retail:
Cooking gasoline is yet once more one other oil and gasoline business to venture into. Right here, you might supply varied small scale cooking gas retailers, or you possibly can sell cooking gas immediately by your self.
14). Oil And Gas Brokerage:
By serving as an middleman between two distributors within the oil and fuel industry, you possibly can earn a fee on each successful transaction executed. This is particularly great in the event you don’t instantly have a big or substantial capital to enterprise into the trade.
See Also: How To search out Real In the past Sellers And Buyers In Nigeria
15). Oil And Gas Tv Show:
Just like a radio speak show, you can begin up an oil and fuel Tv show that talks concerning the trade traits, business opportunities, and job alternatives.
See Also: 7 Sizzling Industries for Beginning a Enterprise Proper Now
16). Oil And Gasoline Journal:
Oil and Gas magazines cover a lot more; including interviews, projections, opportunities, and plenty of extra information about running a enterprise in the oil and gas business.
In case you have some expertise in the trade and have nice writing skills, you can start up an oil and gas journal.
17). Oil And Gas Maintenance And Servicing:
Oil and fuel servicing is a very profitable niche in the oil and fuel trade. The primary function of organisations on this sector is help repair and maintain the services of different oil and fuel businesses.
To begin up this venture, you’re expected to have spent many years within the oil and gasoline servicing industry, learnt a whole lot in regards to the building and upkeep course of, and must have constructed a powerful network before you enterprise petroleum equipment services pittsburgh pa online out by yourself.
See Additionally: 14 Things That Kill Crude Oil Advertising and marketing Transactions In Nigeria
18). Oil And Gas Running a blog:
Oil and gas blogging is a technique a contract author can venture into the business from his or her bedroom. You would speak about what businesses in the business are doing, small and large enterprise ideas people can benefit from in the industry, and how they will achieve success.
By petroleum equipment services pittsburgh pa online doing this, you’ll profile yourself as knowledgeable and a consultant.
See Also: How To begin A Blog — The whole Newbie Information
19). Oil And Gasoline Recruitment Agency:
The oil and fuel industry is a large one, and as such, working a recruitment company that has a big deal with the industry can turnout to be a worthwhile enterprise.
By leveraging the size of the industry, a recruitment agency began by an experienced HR personnel might be a great wager.
20). Oil And Gas Legal Companies:
Some attorneys specialise largely on the oil and gas industry. These legal professionals are majorly specialists, and construct their careers round this business.
If you’re lawyer, you can enterprise into the oil and gas trade by providing authorized companies.
21). Oil Spillage Cleansing:
Oil spillage occurs quite a bit by accidents involving tankers, storage services, refineries, drilling rigs, pipelines, and barges. It may be caused by mistakes or by pure carelessness. Consequently, the necessity for an oil spillage cleansing service is widespread in the trade.
If you’re a professional on this discipline or not, you can either work for an oil spillage cleansing firm, then study more about it at an institute, and could then go on to additional begin up a cleansing service.
There are plenty of dangers involved on this, in addition to large revenues, and as such, only highly skilled professionals are encouraged to venture into this enterprise.
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22). Oil And Gasoline Consulting And Advisory:
To start out an oil and fuel consulting and advisory service, you’d must have had a very large experience within the industry with a great monitor record. After which you’ll be able to then seek the advice of for brand new businesses who’re just beginning out within the industry to ease their startup and progress section.
23). Petroleum Refinery:
This oil and gasoline enterprise is basically executed by greenback billionaires and governments all over the world. It could value as a lot as $eight billion dollars to setup a refinery, and so, this enterprise is extremely limited due to the capital necessities and political network the founder will need to have constructed.
25). Crude Oil Delivery Company:
Just as there are oil entrepreneurs who export crude oil based on an LPO obtained, there are also others who buy giant vessels and lease them to crude oil exporters. This enterprise is very capital intensive as a vessel of this scale prices tens of millions of dollars to purchase.
If in case you have a large money backing or a potentially giant asset finance assist from a financial institution, and a wide network, you can venture into the crude oil transport business.
See Additionally: 10+ Authorized Requirements For An Import And Export Business in Nigeria
26). Refinery And Tank Farm Construction Company:
That is another extremely specialised oil and gasoline enterprise opportunity, as only an individual who’s worked in this business or has links to companies who can construct this, can venture into the development of refineries and tank farms for potential clients.
However none-the-less, it’s a particularly worthwhile enterprise.
27). Lubricant Manufacturing:
Lubricants are broadly purchased and used in their 1000’s every day. Mechanics use them everyday, and at several intervals, you’d have to purchase one for your vehicle.
You may enterprise into the manufacturing of lubricants, develop a reputable brand title, and preferably market them by way of a network of petrol stations and mechanics.
To play it even safer, you’ll be able to method standard petrol stations that sell their very own lubricants and supply to manufacture for them at an even reduced price. This fashion, you may have everyone as your client, instead of making an attempt to construct a brand title that will fail.
28). Procurement, Manufacturing, And Provide Of Fuel Pipelines:
The procurement, manufacturing, and supply of oil and natural gas pipelines is another oil and gas business alternative. It’s reserved for individuals who’ve adequate capital and a large network to venture into.
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29). Natural Gasoline Advertising:
First, you’d need to amass a licence just as several different oil and gasoline business opportunities require. Then you may function a center man between the pure gas producers and the market that wants it delivered.
30). Sale Of Petroleum Tankers:
Shopping for and selling petroleum tankers is another oil and gas business alternative to enterprise into. A number of oil entrepreneurs go on to ultimately purchase their own petroleum tankers, so they can stop losing part of their income to leasing tankers for his or her supplies.
You can enterprise into this business if you have a wide network of petroleum entrepreneurs who are looking to purchase their very own tankers in the close to future.
31). Manufacturing And Sale Of Cooking Gasoline Cylinders:
So many houses use cooking fuel instead of kerosene to prepare their meals, and as such, are always utilizing cooking gasoline cylinders for this objective. The number of households that don’t use it stays in millions, and so, shows the potential opportunity within the business.
You can petroleum equipment services pittsburgh pa online start a cooking fuel cylinder manufacturing and/or retail enterprise and market them to the populace or distribute to other smaller retailers.
See Also: 35+ Worthwhile Small Scale Manufacturing Business Ideas You can start Right this moment
32). Oil And Gas Pipeline Security:
Pipeline vandalization is a big drawback not solely in Nigeria, but in many different parts of the world. You could setup a pipeline security firm that displays pipelines on a 24/7 basis to ensure they stay intact, thereby vastly reducing the damages accomplished to them within the area your contract stipulates.
33). Petrol Station Building And Building:
Simply as building tank farms is usually a lucrative enterprise, constructing petrol stations for shoppers is equally one other alternative.
34). Oil And Gasoline Enterprise Software Utility:
Know-how corporations are equally not unnoticed as they can build tech solutions particularly concentrating on the oil and gas business, and license the softwares to firms within the sector.
See Additionally: 10 Lucrative E-Commerce Business Ideas & Alternatives In Nigeria
35). Offshore Boat And Helicopter Transportation:
Going offshore usually requires the providers of a boat or helicopter service. Whereas some oil and gasoline companies personal their own boats, others don’t or are below-stocked, and as such, opens up a business opportunity for any particular person with a lot of money and a large community of companies needing more inexpensive offshore transportation services.
36). Offshore Medical Providers:
Accidents and different unforeseen events happen rather a lot offshore, and as such, a company known as the “Flying Doctors” was founded by Dr Ola Orekunrin to deal with these issues, thereby proving there was a fantastic alternative on this sector. At the moment, this firm is growing exponentially, has been in existence for over 5 years, and continues to serve the trade.
If you’re a trained medical practitioner, you may venture into this business alternative too.
37). Manufacturing And Provide Of Barrels Or Drums:
Barrels are used in measuring crude oil, and as such, an plentiful market exists for it. You could possibly go into the manufacturing or supply of barrels as a approach to start up within the oil and gas industry.
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38). Manufacturing And Sale Of Oil And Gasoline Tools:
During the setup section of any oil and gas facility, a variety of equipment are utilized in the process, and as such, a Request For Proposals (RFP) is usually despatched out for a public bid on the mission.
You could go into the provision of oil and fuel gear for organisations who are into giant scale facility constructions.
39). Oil And Gasoline Coaching Institute:
Lastly, if you’ve been in the business for a very long time, you would put all of the knowledge you’ve acquired into action by setting up an oil and gas coaching institute.
You may advertise your services on the newspapers and also let your community and shoppers you’ve beforehand served know you possibly can prepare and retrain their staffs to become world class engineers and employees.
What are your ideas on these 35+ oil and gas enterprise concepts and alternatives in Nigeria, Africa, or anyplace else world wide Let me know by leaving a comment below.