Profitable Business Opportunities in Oil And Gas Industry. In the oil and gas industry, success is largely dependent on understanding the entities of change and the frameworks in which these entities operate.
If you are interested in starting a business in the oil and gas industry in Nigeria but don’t know how and where to start, you will definitely find this information useful. Many entrepreneurs know that the Oil and Gas business is very lucrative in Nigeria but they don’t have the money to start because they think it’s capital intensive.
Table Of Contents
- 1 What Is Business Opportunity
- 2 Top Business Opportunities in Nigeria’s Oil and Gas Industry
- 2.1 1. Petroleum Tanker Dealer
- 2.2 2. Sale of Cooking Gas
- 2.3 3. Petrol Station Construction
- 2.4 4. Natural Gas Marketing
- 2.5 5. Pipeline Security
- 2.6 6. Lubricant Oil Production
- 2.7 7. Oil & Gas Consulting
- 2.8 8. Oil & Gas Exploration and Drilling
- 2.9 9. Petrochemical Refining
- 2.10 10. Petroleum Logistic Service
- 3 Conclusion
What Is Business Opportunity
A business opportunity involves sale or lease of any product, service, equipment, etc. that will enable the purchaser-licensee to begin a business.
Oil and Gas industry is one of the fast-rising industries in Nigeria that doesn’t look like it will stop in many years to come. In fact, the way and manner business investors from other parts of the world are investing in the Oil and Gas downstream here in Nigeria is jaw-dropping.
Without much ado, if you are considering venturing into this lucrative industry but don’t know which niche to capitalize on, endeavor to read this article line by line in other not to miss a grip.
Top Business Opportunities in Nigeria’s Oil and Gas Industry
Though not limited to the below-listed businesses, they are the profitable and ultra lucrative business opportunities you can venture into in the Oil and Gas industry.
1. Petroleum Tanker Dealer
One of the businesses you can do in the Nigerian oil and gas industry to establish a steady income is the sale of petroleum tankers. Prejudice is given to this business because one of the major things that keep the industry up and running is the petrol tankers.
If you will like to invest your hard-earned money here, be informed that the business will cost you an enormous amount of money, to begin with, but the rate at which you will realize your investment return will be shocking.
2. Sale of Cooking Gas
Another lucrative business opportunity that awaits you in the oil and gas station is the sale and distribution of Cooking gas. After all, almost every household in Nigeria now has Cooking gas. Investing your money in this business niche isn’t a bad thing.
See Also: Top 10 Business Gas Suppliers
3. Petrol Station Construction
The rate at which Nigerians are building a filling/petrol station these days has skyrocketed. In case you are a civil engineer but will like to scoop your own part in the booming oil sector, Petrol Station construction is a perfect business for you.
4. Natural Gas Marketing
This is a business idea for the giant business moguls. This business requires one to have a license and working permit in other to have access to the business operation. In case you are a business investor with millions of dollars, natural gas marketing is one of the real deals of the oil and gas business realm.
5. Pipeline Security
The last on the list of available business ideas in the oil and gas industry is the pipeline security business. The history of pipeline vandalism in Nigeria is not something old, it still exists today. You can open a security agency that will be fighting vandalization and get paid for the service rendered.
6. Lubricant Oil Production
Lubricant oil is an essential item for any type of engine. The increasing vehicle population and industrial automation have created an increasing demand for lubricant oil. You can start this manufacturing business with substantial capital investment.
7. Oil & Gas Consulting
If you have years of experience and knowledge about the industry, you might consider starting consultancy services for oil and gas enterprises. According to your expertise, you can provide consulting services in the manufacturing and marketing segment.
Some of the potential areas are Conventional and unconventional oil and gas exploration and production, Midstream, Refining and marketing, Oilfield service, and equipment manufacturing.
8. Oil & Gas Exploration and Drilling
If you are living in an area with a high volume of natural oil and gas storage you may consider starting this business. Oil & gas exploration and drilling are capital-intensive businesses with high-profit margins. Analysis to identify geologic within a basin that may contain sufficient hydrocarbon volumes plays an important role in this business.
9. Petrochemical Refining
Refining and petrochemical operations transform crude oil and natural gas into finished products or intermediates. It is then used to manufacture chemicals.
Petroleum refineries are very large industrial complexes. It involves many different processing units and auxiliary facilities such as utility units and storage tanks.
You must have your own unique arrangement and combination of refining processes largely determined by the refinery location, desired products, and economic considerations.
10. Petroleum Logistic Service
Fuel haulage or petroleum logistic providing is one of the most profitable oil and gas business ideas in the transportation sector. A specialized value-added service focused in the area of imports, exports and any type of transport, placed in the worldwide highly demanded business trading and logistic distribution industries.
The oil and natural gas industry is one of the world’s largest industries. Its revenues are large, as are the costs of providing consumers with the energy they need. However, strategic planning, proper management, and skill are required to get success from these businesses. This list of oil and gas business ideas will help you in taking the decision about your new venture in the industry.
While you may be wondering while all the above-listed jobs require a huge capital investment, don’t forget that this is the oil and gas industry where ‘money’ itself lives.
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