If you want to know how to make money in oil and gas doing oil and gas business it is important to know some of the ways of making money in oil and gas industry to enable you find and list oil and gas business opportunities. There are many oil and gas investment opportunities some of which we shall expose through this article. It is of paramount importance to note that as at the time of writing this article, there is fall in oil and gas prices. This fall in prices of oil and gas, among other factors, is more or less due to glut in the oil and gas industry. From basic Economics, apart from some ostentatious or luxury products, we are aware that prices are bound to fall when there is too much supply if there is a comparative fall in demand. Hopefully in a no distant time there is is likely to be reversal in the fall of oil and gas prices going by the series of meetings by members of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC member countries like Russia and others becomes successful by working to clear the existing oil glut and addressing the other factors that might be responsible for the falling oil and gas prices aimed at the stabilization of oil and gas prices. Oil and gas businesses comprises of petroleum business or crude oil business and gas business involving natural gas business as well as compressed natural gas business. These includes businesses that deals on oil and gas products like petroleum products( premium motor spirit- PMS otherwise called gasoline or petrol, automotive gas oil- AGO otherwise called diesel, dual purpose kerosene also known as kerosene), gas products like liquefied petroleum gas- LPG which is derived from crude oil distillation and natural gas processing, oil and gas equipment and machinery, petrochemicals or petrochemical feedstock and other petroleum products like lubricants, paraffin wax, slack wax, petroleum coke, asphalt, bulk tar and sulfur. Oil and gas business also includes oil and gas jobs recruitment agencies and oil and gas services. All these make up the oil and gas sector. While some of these oil and gas businesses are capital intensive and require experience, however there are some that require little capital to no capital and with little experience or no experience in oil and gas at all depending on the area of petroleum industry and natural gas industry one might be interested in.
Oil And Gas Business Ideas And How to Make Money In Oil And Gas
Do you know anyone interested in or are you interested in oil and gas business or are you interested in starting a business in oil and gas industry? Then you can consider these oil and gas business ideas so long you have sufficient capital and experience, little capital and little experience or no capital and no experience.
As profitable as agriculture business so also is oil and gas business profitable if properly effected at the right time with the right approach. It is important to note that any profitable business ideas in the oil and gas industry that really want to stand the test of times requires an oil and gas business plan which serves as a guide on what, when, why and how to do the business.
Based on the sectors being targeted by classify24 with interest and quest for economic diversification for a sustainable economy you can make money in agriculture through agricultural business ideas, make money in oil and gas and make money in petrochemical through oil and gas business ideas and petrochemical business ideas, make money in mining or make money in mineral through mining business ideas or mineral business ideas, make money in metal through metal business ideas, make money in alloy through alloy business ideas, make money in energy through energy business ideas or make money in power through power business ideas.
The oil and gas industry has been and is still a source of revenues and jobs over the years for countries that are blessed with oil and gas reserves. An oil and gas business can focus on any aspect ranging from the upstream, midstream or downstream. Hence an investor can engage in one or more areas like oil and gas exploration and drilling, oil and gas products production, oil and gas products marketing and distribution, oil and gas equipment and machinery, oil and gas services, petrochemical and petrochemical derivatives and what have you. Direct or indirect investment in oil and gas industry can be very profitable if done right. Below are some of the business ideas in the oil and gas sector for those interested in and consider venturing into as starters as well as those seeking how to expand their investment portfolio.
1. Oil and Gas Blogging or Blogging About Oil and Gas
If you are good have experience in the oil and gas industry or you can do simple internet research you can go into oil and gas blogging on a part time or full time depending on you. So many people are out there seeking information about the oil and gas industry hence your blogging about oil and gas can just be a resource they need. After having reasonable traffic to your blog, you can consider monetizing your oil and gas blog with advertising partner networks like google adsense, medianet and others. You can even consider signing up with some affiliate programmes in the oil and gas niche which can be paying you commission. Besides, there some oil and gas businesses that will even place direct advertisement on your blog. So you can make money in oil and gas industry through oil and gas blogging.
2. Oil and Gas Education and Oil and Gas Training Services
Another way to make money in oil and gas is to provide oil and gas education and oil and gas training services. This can be through establishment of oil and gas universities or oil and gas training institutes so long you have the necessary requirements and accreditation to operate an oil and gas education or oil and gas training institute.
3. Oil and Gas Pipe Fitting and Fabrication or Oil and Gas Welding Services
You can make money in oil and gas by starting and offering oil and gas pipe fitting and fabrication or oil and gas welding services so long you have the necessary qualifications and experience.
4. Oil and Gas Pipeline Security Business
You can make money by starting and offering oil and gas pipeline security service. Your service as an oil and gas pipeline security service provider is to help provide pipe line surveillance for oil and gas companies to prevent pipeline vandalization by oil bunkers. This is a very profitable business if you are fortunate to have contract to secure pipelines.
5. Oil and Gas Recruitment
Another way to make money in oil and gas industry is to start an oil and gas recruitment agency that specializes in recruiting oil and gas job seekers. As an oil and gas recruitment specialist oil and gas companies will employ your services in recruiting prospective oil and gas workers. You can stand out from other general recruiters by specializing in recruiting for just oil and gas industries if you are good in oil and gas human resource management.
6. Petrochemical Production Using Petrochemical Equipment and Machinery
You can make money in oil and gas by starting petrochemical production business. While you may specialize in producing petrochemicals and petrochemical derivatives using petrochemical equipment and machinery like petrochemical refining plant and others such that you sell petrochemicals to petrochemical buyers locally or export petrochemicals to petrochemical importers internationally. Petrochemicals are needed for production of products derived from petrochemicals which are in great demand.
7. Oil and Gas Advisory Service or Oil and Gas Consultancy Service
If you are an expert in the oil and gas sector, you can make money in oil and gas by offering oil and gas consultancy service or oil and gas advisory service for individuals or businesses. Oil and gas advisory services or oil and gas consultancy services can be very rewarding monetarily if you are good at what you do.
8. Oil and Gas Research
Another way on how to make money in the oil and gas industry is to offer oil and gas research service for oil and gas research institutes, individuals and businesses in the oil and gas industry. If peradventure you don’t want to do research for oil and gas research industry, better still, you can set up your own oil and gas research agency.
9. Oil and Gas Marketing Research or Oil and Gas Market Research
You can make money in oil and gas industry by offering oil and gas marketing research services for oil and gas businesses. Unlike a general oil and gas research, in this case you are just doing oil and gas market research for businesses in the oil and gas sector that will pay you to help them do market research either offline, online or both.
As important as oil and gas marketing research can be, oil and gas marketing uses the information from oil and gas market research in planning and implementing oil and gas marketing aimed at having good return on oil and gas marketing. This involves putting in place effective oil and gas marketing strategies and oil and gas marketing media. It involves oil and gas promotion strategies like oil and gas advertising, oil and gas personal selling, oil and gas sales promotion and oil and gas public relation services aimed at driving sales directly and indirectly for any oil and gas business. It involves use of oil and gas offline marketing, oil and gas online marketing (use of websites, social media marketing, and email marketing) and oil and gas mobile marketing (mobile phone marketing otherwise called text message marketing or sms marketing), or a combination of any of these oil and gas marketing strategy. You can make money in oil and gas through oil and gas marketing service.
11. Oil and Gas Advertising
Unlike oil and gas marketing that involves a combination of advertising, sales promotion, personal selling and public relation however oil and gas advertising is focused on oil and gas advertising service only. This can be done on a small scale or better still by setting up oil and gas advertising agency which offers oil and gas offline advertising, oil and gas online advertising or oil and gas mobile advertising (mobile phone advertising otherwise called text message advertising or sms advertising). You can make money in oil and gas through oil and gas advertising service.
12. Oil and Gas Exploration and Drilling or Oil and Gas Production.
If you have the required capital or a sound business plan to attract investors, you can make money in oil and gas by oil and gas exploration and drilling or oil and gas production. Oil and gas exploration and drilling and oil and gas production is a very capital intensive business but its return on investment is worth it if done rightly. Because it is capital intensive, it can be done by partnership or incorporation. Gas and oil exploration, drilling and production is a profitable business to venture into if you have the means because no industry that doesn’t directly or indirectly make use of oil and gas products on a daily basis. Industries need power to carry out their day to day activities of which oil and gas is a source of energy for the power industry.
As at the time of writing this article the petroleum industry ranking according to wikipedia based on the top 10 largest world oil companies by oil reserves are Saudi Aramco, National Iranian Oil Company(NIOC), Qatar Petroleum, Iraq National Oil Company(INOC), Petróleos de Venezuela S.A (PDVSA), Abu Dhabi National Oil Company (ADNOC), Petróleos Mexicanos(Pmex), Nigerian National Petroleum Corporation (NNPC), Nepal Oil Company(NOC) and Sonatrach while the top 10 largest world oil companies by oil production are Saudi Aramco, National Iranian Oil Company(NIOC), Exxon Mobil, Petrochina, British Petroleum(BP), Royal Dutch Shell, Petróleos Mexicanos(Pmex), Chevron, Kuwait Petroleum Corporation(KPC), Abu Dhabi National Oil Company (ADNOC). Others in the oil and gas industry are BG Group, BHP Billiton, ConocoPhillips, Eni, OMV, Hess Ltd, Marathon Oil, Total, Tullow Oil, First Texas Energy Corp, Aux Sable, Bridger Group, DCP Midstream, Enbridge Energy Partners, Enterprise Products Partners, Genesis Energy, Gibson Energy, Inergy Midstream, Kinder Morgan Energy Partners, Oneok Partners, Plains All American, Sunoco Logistics, Targa Midstream Services, TransCanada and Williams Companies and the likes of Schlumberger, Transocean Haliburton , etc which offers oilfield services.
13. Oil and Gas Products Marketing and Oil and Gas Products Distribution.
One can make money in oil and gas by oil and gas products marketing and distribution. Marketing and distribution of oil and gas products is one of the ways to make money in the oil and gas industry. By engaging in oil and gas supply business like petroleum supply business, gas supply business, gasoline supply business, kerosene supply, diesel supply business, lubricant supply business, aviation fuel supply business, petroleum tank farms, etc. With the availability of the needed capital, oil and gas products marketing and distribution can be very profitable business to consider venturing into that can have a good return on investment if rightly done.
One can make money in oil and gas by production or manufacturing oil and gas equipment and machinery. Oil and gas equipment and machinery manufacturers may decide to sell oil and gas equipment and machinery to oil and gas equipment and machinery buyers locally or export oil and gas equipment and machinery to oil and gas equipment and machinery importers. Apart from manufacturing oil and gas equipment and machinery, one can equally make money in oil and gas by oil and gas equipment and machinery marketing and distribution as an independent oil and gas equipment and machinery marketer and distributor.
15. Oil and Gas Sourcing Agent
One can make money in oil and gas by being an oil and gas sourcing agent. This can involve being an oil and gas product sourcing agent or oil and gas service sourcing agent. It is either you are acting as agent to buyers of oil and gas, sellers of oil and gas or both. Such that for every successful transaction as an oil and gas sourcing agent is entitled to some monetary rewards in the form of commission or other agreed terms. Oil and gas sourcing agents make money in oil and gas. Thus one way to make money in oil and gas industry is through acting as oil and gas sourcing agent or setting up an oil and gas sourcing agency.
16. Oil and Gas Broker or Oil and Gas Brokerage Service
One can equally make money in oil and gas by acting as oil and gas broker. As an oil and gas broker, you are entitled to a oil and gas brokerage which is the commission for any successful deal brokered. Oil and gas brokerage service can be quite rewarding if you are good in price negotiation for oil and gas products, oil and gas machinery and equipment or oil and gas services. Oil and gas brokers make money in oil and gas. You can act as an oil and gas broker or better still set up an oil and gas brokerage agency.
17. Oil and Gas Sales Representative or Oil and Gas Sales Agent
There are some oil and gas companies desirous of expanding into other countries to enable them increase oil and gas sales and distribution of oil and gas products and services and so they need oil and gas sales agents or oil and gas sales representatives. You can make money in oil and gas as an oil and gas sales agent or oil and gas sales representative. Oil and gas sales reps represent the interest of the foreign oil and gas companies in their country either by selling and marketing the oil and gas products, oil and gas equipment and machinery or oil and gas services of the oil and gas company they represent for which they are offered monetary reward.
18. Filling Station Business
A filling station is an aspect of petroleum products marketing and petroleum products distribution that is engaged in petroleum products retailing to consumers by getting petroleum products from petroleum products depots. Thus, one can make money in oil and gas by starting a filling station business. Getting the license to operate may be quite demanding but it is worth it if granted. It might be quite expensive if you making it a mega petroleum filling station however you can start small and expand with time. Setting up a filling station construction or filling station building is another way to make money in oil and gas industry. You can also consider manufacturing pumping machines or buying pumping machines from pumping machine manufacturers and selling pumping machines to filling station businesses.
19. Cooking Gas Business
One can making money in oil and gas by starting a cooking gas business. A cooking gas business involves buying and selling cooking gas. You can start small and expand with time since there is now a great demand for cooking gas. In this business you can either be directly producing cooking gas cylinders for sale or by from cooking gas cylinders manufacturers and selling cooking gas cylinders and filling and re-filling cooking gas cylinders or any combination of these.
20. Oil and Gas Equipment and Machinery Installation, Oil and Gas Equipment and Machinery Repair, Oil and Gas Equipment and Machinery Maintenance and Oil and Gas Equipment and Machinery Servicing
Another way to make money in oil and gas is to venture into setting up oil and gas equipment and machinery installation, oil and gas equipment and machinery repair, oil and gas equipment and machinery maintenance and oil and gas equipment and machinery servicing. This can include but not limited to oil and gas pipe laying and oil and gas pipe maintenance service. It is a profitable business if properly researched and executed. You may not necessarily need to be an engineer or technician yourself but rather if you have the money you can employ oil and gas equipment and machinery engineers and oil and gas equipment and machinery technicians. As a matter of fact, oil and gas multinational companies require these services and so it is a very profitable business venture in the oil and gas industry as they operate as oil and gas servicing companies.
21. Oil and Gas Legal Services
Every industry is have their way of doing things and how they are regulated. The oil and gas industry is not exempted in this regard hence you can make money in oil and gas by offering legal services in the oil and gas industry. You may even decide to specialize as an oil and gas lawyer. As a specialist in oil and gas laws, your services will be in high demand since oil and gas companies are more or less involved in some legal issues in the course of their operation either locally or internationally.
22. Petroleum Products Tank Farms or Tank Farms for Petroleum Products
Someone make money in oil and gas by setting up petroleum products tank farms either premium spirit tank farms, diesel tank farms or kerosene tank farms or a combination of these tank farms for petroleum products.
23. Petroleum Tank Farm Equipment and Machinery Servicing and Maintenance
Someone make money in oil and gas by offering petroleum tank farm equipment and machinery servicing and maintenance services. This can include petroleum tankers servicing and maintenance. If you are good at what you do, petroleum tank farm business owners will always seek for your services for their smooth operation.
24. Petroleum Products Tanker Sale or Selling Petroleum Products Tankers
Someone can make money in oil and gas by selling petroleum product tankers either the ones you manufacture or the ones you bought from petroleum product tanker manufacturers or petroleum product tanker exporters.
25. Oil and Gas Transport and Oil and Gas Products Transport Business
Another way on how to make money in oil and gas is through oil and gas transport and oil and gas products transport business so long you have all that is required. Depending on the locations and desired mode of transportation, one can venture into oil and gas shipping, oil and gas products shipping, oil and gas haulage or oil and gas products haulage from their points of availability to where they are needed. There is high market potential for this oil and gas business and so oil and gas and oil and gas products transportation is a profitable business if done rightly. Apart from transport of oil and gas products, sometimes oil and gas workers requires transportation. Other than vehicle transportation, offshore oil and gas workers need helicopters/choppers as means of transportation thus if you have the financial requirement you can make money in oil and gas by providing air transportation for offshore oil and gas workers.
26. Oil and Gas Shares
If you are interested in making money in oil and gas you can consider investing in oil and gas shares offered by oil and gas companies so long you have a good oil and gas stock broker. Oil and gas stocks are quite expensive but can be very profitable if understand when to sell and buy oil and gas shares.
27. Oil and Gas Software Applications
You can make money in oil and gas by building and developing oil and gas software applications by selling software applications that will enhance oil and gas businesses. This is good for software developers or you can pay software developers to help you develop oil and gas software applications which you can then sell by using good marketing strategies.
28. Foodstuffs, Foods and Beverages Supply for Oil and Gas Workers
Since oil and gas job can be onshore and offshore, while those onshore have access to food stuffs, foods and drinks easily but this is not the case for offshore oil and gas workers. As a result of this, then you can make money in oil and gas by supplying food stuffs, supplying foods and supplying beverages to oil and gas offshore workers. This can also include rendering oil and gas canteen services for oil and gas workers.
29. Oil and Gas Cleaning Services
Another area where one can make money in oil and gas is by setting up and running oil and gas cleaning services. This can be onshore oil and gas cleaning services or offshore oil and gas cleaning services. As part oil and gas cleaning services, you may also consider rendering oil and gas laundry services for oil and gas workers.
30. Onshore and Offshore Health, Safety and Environment Trainings for Oil and Gas
The oil and gas industry can be quite challenging with issues relating to health, safety and environment. As a result, emphasis is placed on the management of risks and hazards. One way to make money in oil and gas with regards to health, safety and environment is to offer oil and gas health, safety and environment training new and existing oil and gas workers so long you have the necessary qualifications and experience to do so.
31. Crude Oil Refinery or Petroleum Refinery
One way to make money in oil and gas is to set up a crude oil refinery. Petroleum refinery is a capital intensive business but it guarantees a good return on investment if the necessary requirements are in place. Although most petroleum refineries are jointly owned by the government and investors however, it is not impossible to have a private petroleum refinery. Without crude oil refineries, crude oil will be more or less useless. This is because it is in refineries that crude oil is refined into various petroleum products such as gasoline, diesel, kerosene, etc. and in petroleum refining process natural gas is obtained.
If you want to make money in oil and gas you can consider starting a refinery construction or refinery building company and refinery servicing. if you have the technical know-how and the necessary financial and management requirement of hiring capable hands such as architects, engineers and business administrators in running this business.
32. Oil Spillage Cleaning
To make money in oil and gas one can offer oil spillage cleaning service since there are instances when oil drilling results to spillage of oil. If you have the necessary requirements to start and manage oil spillage, you are bound to make money in oil and gas by setting up oil spillage cleaning service company.
33. Oil and Gas Mass Media
You can make money in oil and gas by running an oil and gas television broadcast, oil and gas radio programme, oil and gas newspapers and oil and gas magazines or even oil and gas journal publisher. You can without doubt make money in oil and gas industry should your mass media for oil and gas programmes appeal to audience such that oil and gas businesses will be willing to sponsor your oil and gas mass media offers since it is a way to reach the oil and gas sponsors’ target audience too.
34. Oil and Gas Financing
Business financing is a necessity for a business either for startup or existing business seeking expansion. It is one thing to have a business idea but it is another thing to have access to financing options. You can make money in oil and gas by starting and offering oil and gas financing. Most aspects of oil and gas industry being capital intensive requires oil and gas financing for new and existing oil and gas entrepreneurs.
35. Oil and Gas Insurance
You can make money in oil and gas by starting and offering oil and gas insurance for oil and gas businesses or oil and gas insurance for oil and gas workers. It is either start and run an oil and gas insurance company or be an oil and gas insurance broker.
Summarily, there are different oil and gas business opportunities and oil and gas investment opportunities for new and existing oil and gas investors. Some of the oil and gas business ideas which can be backed up with a good oil and gas business plan includes oil and gas exploration and drilling, oil and gas research, oil and gas products marketing and distribution, oil and gas transportation and logistics, oil and gas financing, oil and gas insurance, oil and gas consultancy, oil and gas blogging, oil and gas education and training, oil and gas pipeline security, oil and gas sourcing agent, oil and gas broker, oil and gas sales representative, to mention but a few. Some of these opportunities in oil and gas industry require high capital and experience while others require little capital and experience and some even require no capital and experience. It is on this note that classify24 recommends that you research very well on the area to venture into if you are interested in making money in oil and gas industry as an oil and gas entrepreneur.
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