Joining the oil and gas industry can be very capital intensive, but if you’re short on cash, there are a few options that can help you start an oil and gas business on a shoestring budget.
1. Start a gasoline station to get into the oil and gas business.
A fuel station is a location where premium motor spirits, diesel, cooking gas, and kerosene, among other things, are sold. For years, investors from all over the world have profited from filling stations.
If you’re looking to start out an oil and gas business then starting a gasoline station is one among the ways to travel . it’s one among those businesses that thrives alright as people would always be in need of its products for daily living.
Filling stations are best located in areas susceptible to traffic. If you’ll successfully secure an area during a location like with heavy traffic, then you ought to consider starting a gasoline station business.
Please note that you simply are going to be required to use and acquire permits and business license from the acceptable authority before you’ll successfully build a gasoline station in any area of your choice.
2. Begin your career in the oil and gas industry by selling cooking gas.
Another lucrative oil and gas-related company that a budding entrepreneur should consider starting is a drilling rig.
This type of business is especially suitable in Nigeria as gas isn’t directly supplied to homes and apartments. All you would like to start out may be a shop located during a residential estate, gas cylinders and provide of gas directly from a fraxinella .
Retailing cooking gas is one of the oil and gas-related business ideas that can be started with a small amount of money. Please keep in mind that you will need to do some thorough study.
3. As a Servicing Company in the Oil and Gas Industry
Major oil companies round the world like Mobil, Shell, Agip, Chevron and Texaco, amongst others, believe oil servicing companies like Halliburton, Schlumberger and Baker Hughes et al, for maintenance and servicing jobs.
If you’re looking towards starting a profitable and thriving business within the oil and gas industry and one that needs engineering skills, then one among your options is to start out an oil and gas servicing company.
Establishing an oil servicing company requires both skilled labour and capital but if you’re ready to kick starter then you’re guaranteed huge returns on your investment
4. As a Petroleum Products Haulage Company, you can work in the oil and gas industry.
Petroleum product haulage companies are companies involved within the transportation of petroleum products like premium motor spirit (petrol / fuel), kerosene and diesel from a refinery, seaport, and oil tank farms et al to varied filling stations scattered across the country.
Aspiring investors/entrepreneurs looking into investing within the oil and gas business are welcome to undertake their hands on this because the profits involved also are huge.
Check Out Also: In 2021, there are five ways to take control of your data.
To start with you would like your tankers, drivers and required permits. it’s capital intensive but also quite lucrative.
5. Enter the oil and gas industry as an oil spill cleanup company.
Countries where oil is drilled within the deep sea like In Texas, us , in Rivers State, Nigeria, there’s the likelihood of oil spillages hence the necessity for professional oil spillage cleaning services. nobody can enter this because it requires very skilled manpower and professionalism but the payout as always is gigantic .
6. As a Lubricant Production Company in the Oil and Gas Industry
Production of lubricant is another profitable business within the oil and gas business value chain that an entrepreneur who is looking to start out a business can consider.
The marketplace for lubricant products is large and competitive but hospitable entrepreneurs willing to compete. The range of products under this business, and as long because the quality of your product is assured you’re guaranteed a profit.
7. Invest within the Oil and Gas Industry via Shares
For people who aren’t business oriented but still wish to take advantage on the oil and gas industry, there’s the choice of investing in oil and gas related shares.
Investing within the shares of listed companies within the oil and gas sector may be a good avenue to urge into the oil and gas industry. The shares of such companies are usually in high demand and intrinsically the costs are usually high.
If you’ve got an honest stock broker, you’ll be ready to buy this stock at a reasonable price once they are available purchasable .
8. Start a diesel supply business to get into the oil and gas industry.
One of the simplest and least capital intensive ways to venture into the oil and gas industry is to have a diesel supply business.
On major advantage of the diesel supply business is that you simply can start from home because the business involves going out there to plug to clients and also buying diesel from the source and supplying on to your client.
9. Lubrication Oil Retail Shop
The need for lubricating oils in homes, companies, factories and industries can’t be overemphasized. thanks to the increasing population and increasing demand, sale of Engine Oil, Break Fluid and Hydraulic Oil et al, is another viable way of creating money from the oil and gas business .
Lubricating oils are utilized in various places like vehicles, for daily running also as during servicing. Lube oil is also used in generators and other machinery. This high demand makes this sector one you’ll readily venture into within the hopes of creating profit in.