10 Ways to start crude oil business

10 Ways to start crude oil business

10 Ways to start crude oil business: Crude oil business is a very lucrative form of business. Many are cashing out their millions while some run into billions of naira on a monthly or yearly basis, but be it as it may, it is strictly regulated not easy to tap in.

But before am done explaining to you how it works you will come to understand that, Its what you too can do and come out successfully in.

When we talked about crude oil, cast your mind back. Your mind to premium motor spirits PMS (fuel) and the diesel commonly and popularly called (Ago).

If I may ask, do you really want to be counted among millionaires this year?

And there is no capital to push it.

I will show you how to go about it, no big deal.

No matter what, crude oil business will always be in place as far as there are cars driving,

there is epileptic power supply, there are industries producing and manufacturing.

As the case may be, petrol or fuel will always be in vogue always.

Don’t forget bitumen is also gotten from crude oil for the construction on roads and felting work to avoid house leakage and so on.

So if you are affiliated to this click you will be your own boss in no time.

10 Ways to start crude oil business in Nigeria


1) Crude Oil Extraction:

2) Renting of Equipment:

3) Oil Refinery/Petroleum Processing

4) Petrol Hauling and Organization

5) Setting up a Gas Station

6) Kerosene Household Peddling

7) Consultancy services

8) Running a Media Program (Tv or Radio)

9) Internet News Blog

10) Oil and Gas Investment

Below is the list from my research on how you can benefit from crude oil business;

1) Crude Oil Extraction:

You can partner with government to dig out crude Oil if you have the facilities at hand and government will compensate you but to go to that level you will need to be licensed by the government else you may be jailed for life. You need a strong capital base and a high advanced technical team to be approved.

2) Renting Of Equipment:

Here’ if you don’t have money to go into business, working hand in hand with the oil or gas sector you still make millions if you set up a leasing petroleum equipment renting outlets. You can be renting out your equipment and still make good profits from those companies.

3) Oil Refinery/Petroleum Processing:

You can earn millions if you can set up a refinery company where the petroleum companies bring in their crude oil for processing in you company.

Like I said, you will need to register and get licensing. And another thing you will be doing will be to pay tax to government because failure to adhere may lead to a total close down of your business and you can’t afford to lose that.

If you have to say 50,000,000 million naira you can start it but it’s also based on Logistics. so if it’s more than that you may then need to affiliate with other people. Like you who have such equivalent or higher money so that you can move very fast.

4) Petrol Hauling and Organization:

Fuel hauling here has to do with the transportation or transfer of fuel, gas, and (or) lubricant from one filling station to the other. It is known popularly like petroleum or diesel hawking.

You will get them directly from the refinery company and then be supplying it to sub stations and make your profits.

This is one of the most lucrative business so far in Nigeria and other part of world, at least if they don’t need fuel they will use gas, and if they don’t need gas they will need lubricants. One of them will be use virtually in any country of the world.

Petrol don’t expire so even if price falls today you can keep it when it’s in very high demand and sometimes very scarce you can sell it, out with your own price.

But don’t set your price so high because not everyone has such purchasing power.

That is what most people do and they think they are in business

Take for example you bought 5ltrs of kerosene for N100 naira each and there is increase in price of N50 naira you go ahead selling at N600 naira per liter.

I hope you know the point am driving at!

5) Setting up a Gas Station:

Another part or way you can benefits and make good money from crude oil business is by owning your own petroleum station for fueling of vehicles and other engines. Don’t forget to include kerosene outlets and engine oil place.

You will make good profits since road side agents will always opt in to purchase and retail to customers too.

6) Kerosene Household Peddling:

For a while now we have been noticing big tanks on wayside, big containers. Some tanks have handy pumps that helps them not to waste the product and helps them to set measurement easily.

You can purchase kerosene in wholesale and be selling it domestically for home use.

Have not seen much people selling fuel in large quantity, maybe due to the risk it portrays so I think you should make a proper research on why it is so and if there is a better alternative you can adopt as far as you are safe.

I have a friend who have been selling engine oil to rent house.

Takes care of his siblings and children. After much asking about how he came about doing all this that he has no job that they only job I see him do is to sell engine oil.

He, let me into his 6 years secret that its very lucrative and the region he resides, he is the only cock to crow’ he has monopoly power in his business. That’s why he succeeds where God is his strong backbone.

7) Consultancy services:

If you have been trained in this field on how to go about this business and you have a wider knowledge on it.

Might be from the polytechnic where mostly there is practical application of the course Or you were affiliated one way or the other working in petroleum company with many years of work experience.

You can as well setup a consultancy service where people can come in and make enquiries, get advice, directions on how they can start this crude oil business charging them for a fee.

If they say knowledge is expensive, they should try ignorance and see which is better. You can likewise help investors succeed with your expert skills easily without much hassles.

8) Running a Media Program(Tv or Radio):

If you are good enough in this field. You can create educational programs on television, Teaching people how to operate this business, Setting up live reviews and conducting interviews to entrepreneurs who are working in this field to share their ideas with other young entrepreneurs who have been dreaming of being in that field.

By so doing if you can make it interesting to the viewers and can grab more attention, Oil companies may sponsor your programs. People will come to place advertisement on your program and it is another way to earn from oil and gas business.

9) Internet News Blog:

If you’re really connected to latest happening in the petroleum industry, you can start blogging about it with latest news, vacancies and you may sell out quality guides on how to go about the business and may start advertising things on your blog especially if it’s very popular.

Brother, Sister this is another way to earn from oil and gas business.

So if you have the connections go get your PC and get ready to blog for money, Turn your ideas to wealth today.

10) Oil and Gas Investment:

Don’t be afraid to invest, it does not sometimes require you to get millions before you invest. Keep an eye on credible oil companies And know when they will be selling shares. Buy it and become a stakeholder, as the profits comes you get your percentage and move on.

I hope I have in my own little way let you in on how to run a good profitable crude oil business in Nigeria.

If you have any questions, please do reserve it at the comments box below.

Thank you.

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