15 Lucrative Oil and Gas Business Ideas To Start 2023

Last Updated on September 8, 2022

This list includes lucrative oil and gas business ideas to start in 2023. The sphere of oil and gas is a vast industry that involves a lot more than we talk about, it hinges on the discovery, exploration, extraction, refinishing, distribution, and marketing of refined petroleum products.

Oil and Gas Business Ideas

Oil and gas business is one that will never run out of demand, the ratio of demand and supply of oil and gas is like 7:3, indicating the high demand of industrial oil and gas in the world. It is no longer news that oil and gas provides half of the world’s energy, adding that a single lack of oil and gas can send a mighty country to the trenches because it is a necessity.

So, if it’s ever crossed your mind to begin any oil and gas business in 2023, I applaud you, it’s a brilliant idea or if the idea of which oil and gas business to begin brought you here then you won’t leave without getting a call to action.

15 Lucrative Oil and Gas Business Ideas

Below is a list of lucrative Oil and Gas Business Ideas you can start.

1. Filling Station

This is undoubtedly one of those options that had crept to your mind. Filling station owners are doing well especially if their stations are based in a strategic location, and people trust their oil. This part of oil and gas business works in close proximity with automobiles, the latter demands, the former provides and we all go home and everyone’s happy.

All you’ll need to kick start your business is a nice location, bustling or not as long as it’s easily accessible, a marketing system, the equipment, you might need a mini warehouse or not, but be sure to push through with your plans regardless.

2. Gas Station

About seven in ten Nigerian homes make use of gas, so it’s not an issue of who is going to buy. Other homes, eateries, restaurants, and ecetera will certainly be in demand big gas, you could do the lots. Combining a gas station with a fully stocked food Mart isn’t such a bad idea I presume.

3. Cooking Gas Distribution

You most certainly have heard of cooking gas distribution amd you must have also heard of LPG distribution, which is considered one of the most profiting in the country. Aside requiring a license from the government authorities, it’s actually a niche that requires medium scale capital to start.

4. Kerosene retailing

We were all in that shoe once and believe me there are still lots of people who still use stoves and other mechanics that demand the use of kerosene so starting a kerosene retail business is on one of the cheapest oil and gas business ideas that could fetch you thd kind of mo ey you need in less than two months. Go for it.

5.  Lubricant Oil Production

Lubricant gas is a necessity before all kinds of engines, us you can start the business with a capital as small as a present in a gift shop.

6. Oil & Gas Exploration and Drilling

This business will work much effectively if you live in an environment rich in natural oil and gas storage plus analysis to identify the typography of regions with mass amount of hydrocarbons is a part of the business that cannot be overemphasized.

7. Petrochemical Refining

Petrochemical refining is a long process that involves the extraction of raw materials and  converting them into finished products. Not withstanding, the pain is worth it. To this end, you may require multiple units, departments, equipment and facilities and of course, storage tanks  to make this happen.

8. Petroleum Logistic Service

Petrol haulage is one of the most lucrative oil and gas ideas in the country in the sector of transportation. Add up the cost of transportation from one place to another and the risk involved, plus of you refined it yourself then it’s more revenue for you.

For this, you will need a safe transport system, strategic planning, proper management, and skill required to deliver petrol to the target destination safely.

9. Oil & Gas Consulting

You know the saying, no knowledge is wasted. Your experience in the field of oil and gas can actually earn you this job. You could a consulting firm, offering expert knowledge on the manufacture and marketing strategies needed in this sphere. Guide people away from making silly mistakes that could jeopardize their lives and properties, it’s a nice thing to do.

10. Start a blog page

You could create a blog page and upload articles on oil and gas production, refinery, distribution and the likes. There are hundreds of people who would love to learn the module operandi of the oil and gas business. You would be shocked how many people would slide into your page to read an ask questions, plus the amount you could make doing this.

11.  Start an oil spillage cleaning business

Considering the amount of spillage we uncover yearly, this wouldn’t be considered a bad idea, would it?

12. Start an oil and gas radio talk show business

You may not really hear about this but I tell you that it’s happening. Radio stations and TV houses are constantly in search of individuals with the flair for this topic and looks like not everyone is good at doing what you do so you might want to take the chance.

13. Start a crude oil shipping business

It might sound like a great deal to you as a newbie but the more you delve into the business, the more you realise it wasn’t as bad as you thought. You will require a license from the government though to ship crude oil plus your vessels may be subject to scrutiny at the Port to check what it carries.

14. Start a petrol retail business

Aside a filling station, what other scales quick is a road side or shop retail petrol retail business. Most motorists may not be patient enough to queue up at the filling station and may rush to you as the best alternative. You need a busy area, may be close to a filling station or away from it, but a place you’re sure to meet customers. This kind of business requires small scale capital to begin.

15. Diesel supply

Like kerosine and petrol retail business, diesel retail business requires limited capital to begin but diligence and hardwork will get you where you need to go. It’s going to be oil and gas 2023, the more we live by, the more we realize how doomed we’d be without those two. So, go for it, make your idea a reality.

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