35+ Profitable Oil And Gas Enterprise Ideas And Alternatives For 2017
The oil and gas business is probably the most glorified business sectors in Nigeria and Africa. It has created extra billionaires than almost every other sector, and anyone who runs any sort of business in it is basically perceived to be a millionaire or billionaire of their international locations.
Whereas the oil and gas business is certainly very profitable, most individuals don’t know there are such a lot of enterprise roles they can play in it, no matter the amount of money they have to start out up with.
If you’ve had a craving for beginning a business within the oil and gas business however don’t know the way or what to begin with, listed below are 35+ profitable oil & gasoline business ideas in Nigeria or Africa:
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1). Petroleum Merchandise Procurement And Supplies:
That is one of the most fundamental oil and gasoline businesses to enterprise into. Here, you deal with supplying petroleum merchandise like diesel, drilling chemicals, and a complete lot extra to a client base that wants these items supplied on demand and on credit, to be repaid in 2 to 6 weeks.
You may leverage shoppers like government hospitals, giant factories, drilling and exploration companies, and a whole lot extra to build your supply chain network.
See Also: How To start out A Diesel Provide Business In Nigeria: The whole Guide
2). Petrochemical Refining:
Petrochemical merchandise like Benzene, Ethylene, Ammonia, Toluene, and a whole lot more are used for a large variety of functions, and so, its large market base makes the manufacturing of petrochemical merchandise a profitable oil and gas enterprise to venture into.
You may either promote them domestically or export to neighboring countries.
Three). Haulage And Logistics:
This involves the movement of products and services within the oil and gas business. You probably have substantial capital, you possibly can venture into this enterprise by transporting petroleum merchandise like Ago, DPK, and more with your tankers and different logistics vehicles you might have, on behalf of your purchasers .
With a large community of suppliers and an ordinary cost per trip, you can begin up an oil and gas haulage and logistics service.
See Additionally: 8 Methods to cut back Transportation Costs in Nigeria — And Develop Your Profits
4). Equipment Leasing:
With a large capital and a large community, you may purchase tools that are largely utilized in oil exploration, drilling, and an entire lot more, then lease them out to organisations who want them for short-time period or lengthy-term makes use of.
5). Oil Drilling And Exploration:
This is an oil and fuel enterprise for high internet worth individuals. It is a dangerous venture, however may be extraordinarily worthwhile. To venture into this, you’ll need an Oil Prospecting License (OPL), a very skilled and technical team, and high valued equipment to start out with.
See Additionally: The Crude Oil Advertising and marketing Enterprise In Nigeria: Full Guide For Patrons & Sellers
6). Fuel Importation:
Some petroleum entrepreneurs import refined petroleum merchandise 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 local petroleum entrepreneurs like diesel suppliers, petrol stations, and a whole lot extra.
These merchandise are normally offered out fast to distributors as a result of they’re priced low.
If you have a large operating capital in the tune of $10 to $30 million dollars, you can enterprise into the importation of gasoline for resale in Nigeria.
See Additionally: 10 Low Cost Enterprise Ideas That may Make You Cash From Anyplace In Africa
7). Oil Farm/Depot:
Imported gasoline as stated above, are stored in tank farms. Most oil marketers don’t personal tank farms, and as a result, all the time must store their petroleum merchandise in other tank farms.
With a large working capital, you can construct a tank farm for the sole objective of leasing it out to oil entrepreneurs who usher in petroleum products.
See Also: How To seek out Actual Crude Oil Sellers And Buyers In Nigeria
8). Crude Oil Exportation:
Crude oil exportation is one other oil and gas enterprise to venture into. To successfully start this, you’d must get an LPO from a refinery domestically or abroad, then you definitely must have the minimum money worth of the crude oil quantity you intend to export, in your checking account.
With this money value stored, the NNPC can ship the volume of crude oil it is advisable to your shopper and reimburse you with a 1% worth of the crude oil exported as revenue.
In this occasion, you don’t entirely use your own cash to export it. As a substitute, you want the minimum to be in your checking account, which you possibly can get with a financial institution loan so long as you have got a precious guarantor.
See Also: The ultimate Guide To Beginning A Crude Oil Brokerage Enterprise (Crude Oil Selling) In Nigeria And Africa
9). Offshore Buying and selling:
If you don’t have the rights to sail by means of the water ways of a unique nation, you possibly can promote your petroleum products to shippers who have the licence to take action. Now you probably have the rights to ship, you can buy out one other shipper’s merchandise at a fairly good price and full the shipment yourself.
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10). Oil And Gasoline Radio Talk Present:
Hosting a refinery of petroleum in india 2017 radio discuss show that discusses the most recent oil and fuel developments, funding opportunities, job opportunities, and much more is another oil and fuel enterprise to venture into.
Eleven). Petrol Stations:
That is the retailing of petroleum merchandise directly to motorists and a number of other others. The margins listed here are quite a bit higher than selling the petroleum products on the depot to suppliers, and as a result, most petroleum marketers who import petroleum products additionally own tank farms and petrol stations, so they can maximise their profit margins.
See Also: How To buy Crude Oil From Nigeria: Complete Information For Consumers And Sellers
12). Kerosene Retail:
Kerosene retail is another oil and gasoline business to enterprise into. You can either supply kerosenes to multiple small-scale retailers or you can have a number of locations the place you sell the kerosenes directly to the end customers.
See Additionally: 15 Profitable Small Enterprise ideas for Newbies
13). Cooking Gasoline Wholesale And Retail:
Cooking gasoline is yet again one other oil and fuel enterprise to venture into. Right here, you could possibly supply various small scale cooking gas retailers, or you may sell cooking fuel directly by yourself.
14). Oil And Gas Brokerage:
By serving as an middleman between two vendors within the oil and gas business, you’ll be able to earn a fee on every profitable transaction executed. This is very nice in case you don’t immediately have a large or substantial capital to venture into the business.
See Also: How To search out Actual Ago Sellers And Patrons In Nigeria
15). Oil And Fuel Television Present:
Just like a radio talk present, you can start up an oil and fuel Tv show that talks concerning the business traits, business alternatives, and job alternatives.
See Additionally: 7 Hot Industries for Starting a Enterprise Right Now
sixteen). Oil And Gas Journal:
Oil and Gas magazines cover much more; including interviews, projections, alternatives, and many more information about running a enterprise in the oil and fuel industry.
In case you have some experience within the industry and have great writing skills, you can begin up an oil and fuel magazine.
17). Oil And Fuel Upkeep And Servicing:
Oil and gasoline servicing is a very worthwhile niche in the oil and gasoline business. The first role of organisations in this sector is assist fix and maintain the amenities of different oil and gasoline companies.
To start out up this enterprise, you’re expected to have spent a few years in the oil and fuel servicing trade, learnt an entire lot about the building and upkeep course of, and should have built a powerful community before you enterprise out on your own.
See Also: 14 Issues That Kill Crude Oil Marketing Transactions In Nigeria
18). Oil And Gas Running a blog:
Oil and fuel blogging is a method a contract author can venture into the trade from his or her bedroom. You might discuss what companies in the trade are doing, small and huge business ideas people can benefit from within the business, and how they’ll be successful.
By doing this, you’ll profile your self as knowledgeable and a marketing consultant.
See Additionally: How To start A Blog — The whole Beginner Information
19). Oil And Gasoline Recruitment Agency:
The oil and gasoline business is a big one, and as such, working a recruitment company that has a large give attention to the trade can turnout to be a worthwhile venture.
By leveraging the size of the business, a recruitment firm started by an skilled HR personnel will be an amazing bet.
20). Oil And Gas Authorized Services:
Some attorneys specialise largely on the oil and fuel industry. These attorneys are majorly specialists, and construct their careers around this trade.
If you’re lawyer, you can enterprise into the oil and refinery of petroleum in india 2017 gas business by offering legal services.
21). Oil Spillage Cleansing:
Oil spillage occurs rather a lot by accidents involving tankers, storage facilities, refineries, drilling rigs, pipelines, and barges. It can be attributable to mistakes or by pure carelessness. Because of this, the need for an oil spillage cleaning service is widespread in the trade.
If you’re knowledgeable on this discipline or not, you might both work for an oil spillage cleaning firm, then learn extra about it at an institute, and will then go on to additional begin up a cleansing service.
There are a number of dangers involved on this, in addition to massive revenues, and as such, solely extremely experienced professionals are inspired to venture into this enterprise.
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22). Oil And Fuel Consulting And Advisory:
To begin an oil and gas consulting and advisory service, you’d need to have had a very vast experience within the business with an excellent observe record. After which you can then seek the advice of for new businesses who’re just starting out within the industry to ease their startup and progress phase.
23). Petroleum Refinery:
This oil and gas enterprise is largely executed by dollar billionaires and governments around the globe. It could value as much as $eight billion dollars to setup a refinery, and so, this enterprise is highly limited because of the capital necessities and political network the founder should have constructed.
25). Crude Oil Delivery Firm:
Simply as there are oil entrepreneurs who export crude oil primarily based on an LPO acquired, there are additionally others who purchase massive vessels and lease them to crude oil exporters. This business could be very capital intensive as a vessel of this scale costs thousands and thousands of dollars to purchase.
When you have a large money backing or a potentially giant asset finance help from a bank, and a wide community, you possibly can enterprise into the crude oil transport business.
See Also: 10+ Authorized Requirements For An Import And Export Business in Nigeria
26). Refinery And Tank Farm Development Firm:
That is another extremely specialised oil and gasoline business alternative, as only a person who’s labored in this trade or has links to corporations who can construct this, can venture into the development of refineries and tank farms for prospective purchasers.
However none-the-less, it’s a particularly profitable enterprise.
27). Lubricant Manufacturing:
Lubricants are broadly bought and used in their hundreds on a daily basis. Mechanics use them on a regular basis, and at several intervals, you’d have to purchase one in your car.
You can enterprise into the production of lubricants, grow a reputable model identify, and preferably market them by a network of petrol stations and mechanics.
To play it even safer, you possibly can method well-liked petrol stations that promote their own lubricants and provide to manufacture for them at a fair lowered cost. This fashion, you’ll be able to have everyone as your shopper, instead of trying to build a model identify that may fail.
28). Procurement, Manufacturing, And Provide Of Fuel Pipelines:
The procurement, manufacturing, and supply of oil and natural gasoline pipelines is another oil and gasoline business alternative. It is reserved for people who’ve enough capital and a wide community to venture into.
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29). Natural Gas Advertising:
First, you’d need to amass a licence simply as several different oil and gas enterprise opportunities require. Then you may 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 gasoline business alternative to venture into. A number of oil entrepreneurs go on to eventually buy their very own petroleum tankers, to allow them to stop shedding part of their earnings to leasing tankers for their provides.
You may venture into this business you probably have a large network of petroleum entrepreneurs who are looking to buy their own tankers in the close to future.
31). Manufacturing And Sale Of Cooking Gas Cylinders:
So many homes use cooking fuel instead of kerosene to organize their meals, and as such, are always using cooking gasoline cylinders for this goal. The variety of households that don’t use it stays in millions, and so, shows the potential opportunity within the business.
You possibly can begin a cooking gas cylinder manufacturing and/or retail business and market them to the populace or distribute to different smaller retailers.
See Additionally: 35+ Profitable Small Scale Manufacturing Business Ideas You can start At the moment
32). Oil And Fuel Pipeline Safety:
Pipeline vandalization is a large problem not solely in Nigeria, but in lots of other elements of the world. You could setup a pipeline safety company that monitors pipelines on a 24/7 foundation to ensure they stay intact, thereby greatly decreasing the damages executed to them within the world your contract stipulates.
33). Petrol Station Building And Construction:
Just as building tank farms can be a lucrative enterprise, building petrol stations for clients is equally another alternative.
34). Oil And Gas Enterprise Software Utility:
Know-how companies are equally not disregarded as they will construct tech solutions particularly targeting the oil and gasoline business, and license the softwares to corporations within the sector.
See Also: 10 Profitable E-Commerce Enterprise Concepts & Alternatives In Nigeria
35). Offshore Boat And Helicopter Transportation:
Going offshore usually requires the services of a ship or helicopter service. Whereas some oil and gas corporations personal their very own boats, others don’t or are underneath-stocked, and as such, opens up a business alternative for any individual with a lot of money and a wide network of corporations needing extra inexpensive offshore transportation providers.
36). Offshore Medical Companies:
Accidents and different unforeseen occasions happen loads offshore, and as such, a company referred to as the “Flying Doctors” was founded by Dr Ola Orekunrin to deal with these points, thereby proving there was an ideal opportunity on this sector. In the present day, this firm is rising exponentially, has been in existence for over 5 years, and continues to serve the business.
If you’re a trained medical practitioner, you can venture into this enterprise opportunity too.
37). Manufacturing And Provide Of Barrels Or Drums:
Barrels are utilized in measuring crude oil, and as such, an abundant market exists for it. You could possibly go into the manufacturing or provide of barrels as a way to start up in the oil and gasoline business.
See Additionally: Prime three Recycling Business Ideas And Opportunities In Nigeria
38). Manufacturing And Sale Of Oil And Gas Equipment:
Through the setup phase of any oil and gas facility, lots of gear are utilized in the process, and as such, a Request For Proposals (RFP) is often despatched out for a public bid on the project.
You can go into the supply of oil and gas gear for organisations who’re into large scale facility constructions.
39). Oil And Fuel Training Institute:
Lastly, if you’ve been within the business for a very long time, you would put all the information you’ve acquired into motion by setting up an oil and gas coaching institute.
You could advertise your companies on the newspapers and in addition let your network and shoppers you’ve previously served know you possibly can practice and retrain their staffs to change into world class engineers and employees.
What are your thoughts 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 under.