25 Awesome Oil Business Ideas to Make Money

Yes, there are really awesome oil business ideas out there to make money with.

This article reveals 25 of the very best ones to consider and some SECRET tips to help you.

 

Why Oil Business Ideas?

As individuals, we fulfill several roles and responsibilities.

For example, we can be an employee or employer, we can be a father or mother, aunt or uncle, grandfather, grandmother, etc.

You get the picture we don’t have just one function and were not limited to just one role in life.

Making the jump to oil, the same can be said of a barrel of oil in that oil does not just have one function.

Perhaps, your thinking may have been a little bit limited as was mine in that thinking a barrel of oil was used strictly to produce gasoline or other types of fuels.

The reality is that a barrel of oil is used for many purposes with only 20% of a 42-gallon barrel of crude oil being refined into gasoline with the remaining portion or 23 gallons of a barrel of oil used to make other petroleum products.

The reality is there are thousands of products that are created from a 42-gallon barrel of oil.

• Some of those products include:
• Ink
• Bicycle tires
• Food preservatives
• Tires
• Golf bags
• Basketballs
• Ballpoint pens
• And much more

And, just as many products can be manufactured from a barrel of oil many business ideas can be implemented to make money surrounding the use of oil.

 

25 Best Oil Business Ideas to Make Money

 

1. Oil Refinery

Building an oil refinery or purchasing an existing refinery is a business oil-related option.

To invest in an oil refinery takes a great amount of investment capital and can be accomplished through loans, securing partners, and/or investors.

An oil refinery processes the crude oil and sells it to other vendors.

An oil refinery can escalate in cost well into the millions of dollars.

 

2. Importing Fuel

This particular aspect of the oil business involves the purchase, storage, and selling of oil.

As part of the operational system and importing oil or fuel you would have to have a series of tanks designed for storage.

These storage areas are known as tank farms where the oil can be stored.

This pre-storage area can be an oil business venture.

 

3. Service Station

One of the best oil-related businesses to consider would be involved in a service station.

A gasoline filling station provides all types of products for automobiles, trucks, etc.

To start this successful oil-related business would require the purchase of an existing site or the building of a new site.

Considerations for the building of a new site would include various permits and licenses and an optimum location.

 

4. Kerosene Business

A by-product of oil is the production of kerosene.

Kerosene is a highly flammable liquid that is frequently used as fuel.

This fuel is used to power jet engines and domestically is used in heating systems, lamps, and other solvents.

 

5. Transportation

Another critical component in the supply and demand process of the oil industry is transportation.

The prime method of transporting oil is through over the road tanking trucks.

As this is an involved process and the associated costs and use of vehicles make it expensive, the owner/operator will receive the appropriate monetary rewards.

 

6. Equipment Leasing

Finding new sources of this precious commodity requires the use of proper equipment.

You could start an equipment leasing business that will lease out the needed equipment for exploration, drilling, or refining oil.

Examples of leased equipment would include:

• Well testing units
• Oil field tanks
• Trucks
• Oil and gas separators
• Etc

 

7. Oil Servicing

This particular business associated with the oil industry involves a heavy emphasis on engineering skills.

Examples of oil servicing companies include:

• Halliburton
• Schlumberger
• Transocean

These companies and others provide the services of engineers, maintenance, conducting of geological surveys, forms of testing, etc.

 

8. Diesel Distribution

Diesel fuel is another lucrative business associated with the oil industry.

Diesel fuel is utilized in certain vehicles and is also used as a power source for certain school and company energy plants.

Being a retailer of diesel is a good return on one’s investment.

 

9. Oil and Gas News

Knowledge is power and being current with the latest news in this part of the energy sector is critical.

Business money-making opportunity is to provide to those associated with the oil industry pertinent information such as the latest in oil-related news and developments.

The news is delivered through blogging, magazines, television, etc.

 

10. Cooking Gas Retail

This business opportunity associated with the oil industry is fairly straightforward.

This business is a low entry with moderate capital investment.

It is the purchase of natural gas from a wholesaler, stored in large tanks, and then selling this fuel to customers at a mark-up.

 

11. Legal Services

A great business idea to make money as it relates to the oil industry is to be involved in the legal profession that specializes in this area of law.

The starting of a law firm or revamping your current law firm to specialize in oil and gas law has proved to be a profitable strategy.

In addition, peripheral staff will be needed to support attorneys that specialize in this field.

Therefore, a legal secretary, paralegal, etc. are occupations relative to the oil industry that would be good career choices.

 

12. Oil Spillage Cleanup

The reality of any industry is that accidents occur.

In the oil industry, this is no exception and in particular, the possibility of oil spillage on land and in water.

A good company that addresses this issue would be the starting of an oil spillage cleaning company.

In operating this type of company, there would be a bidding process as it relates to oil spillage and if you can acquire a contract to clean up the oil, you would be able to make millions of dollars depending upon the size of the spill.

 

13. Consultant

A consultant is an individual who is contractually hired to come into a business and utilize their experience in education to observe processes and make recommendations that will help streamline the company, possibly moves boost morale, and make for a more efficient business operation.

A consultant, with a significant background in the oil and gas industry, can use their experience and certifications to provide insight into petroleum operations and report to the leadership within the company.

 

14. Media

A way to communicate with oil and gas companies and those peripheral companies that serve in this industry is to provide news and address issues pertinent to this industry.

Content for the TV program could include interviews with successful oil entrepreneurs, the latest news stories about drilling operations, trends of the future, interviews with various engineers as it relates to oil exploration, etc.

This entertainment venue but informational and educational as well would be a great draw for all those involved in the gas and oil industry.

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• Money Making Business Ideas Near Train Stations

 

15. Blogging

Another great company idea to create as it relates to this industry is the offering of a quality blog.

The blog can be about anything oil and gas which could include possible pending legislation, the opening of pipelines, the closing of pipelines, the impact of drilling or not drilling, etc.

Revenue could be gained by followers and supporters of the blog, plus the strong possibility of gaining a major sponsor such as a refinery, oil company, etc.

 

16. Periodical

Another informational and helpful way of communicating to those involved in the oil and gas industry is through a monthly periodical that offers many quality articles.

Revenue would be generated through advertisement within the pages of the written periodical or provided electronically through your website.

 

17. Lubricant Production

A lubricant production company is another viable option as it relates to a company starting in the field of oil and gas.

Examples of lubricant products would include lubricants used in vehicles, mineral oil, synthetic oils, thin coatings on cooking utensils, and more.

 

18. Pipeline

An effective method of transporting oil between two points of the oil production industry is through the use of pipelines.

The options as it relates to the use of pipelines and transporting oil would be to fabricate the actual pipe or run a company that safely and effectively lays the pipe for the transportation process to occur.

The potential drawback would be the significant amount of capital needed to be part of this process but the return on one’s investment would certainly allow for profits to be generated.

 

19. Natural Gas

An alternative fuel but still part of the oil industry is the production of natural gas.

Therefore, a company that can be part of the oil industry can be a marketer of natural gas.

Your company, and being part of the process, could be the “middleman” and provide natural gas as produced to those who will be the retailers of this energy source.

The other benefit in looking at being involved in a natural gas company is that prices are no longer as heavily regulated as they once were.

The price is determined by supply and demand.

 

20. Invest

A more passive but quality investment opportunity that can ensure good returns is by investing in the oil and gas industry through the purchase of shares.

Specifically, the shares can be purchased in companies that are involved in exploring new oil fields or that are currently involved in the production of petroleum or natural gas.

Generally, the purchase at this point is high to buy shares but it would seem that investment in oil will always have a place or should have a place in one’s portfolio.

 

21. Aviation Fuel

Another component of energy that is derived from the oil industry is aviation fuel.

If in a financial position to start such a business or invest in a business associated with aviation fuel, at this point, is a competitive business as the fuel is provided at competitive prices.

 

22. Tankers

It would seem that anything affiliated with the use or production of “black gold” has the potential of providing a good rate of return to an individual.

This reality is either through business ventures or investment opportunities.

The sale of petroleum tankers is another strong possibility for operating a profitable business as it relates to transporting oil from one location to another

This company start-up would require negotiating with various automobile companies in the particular production of petroleum tankers and being part of your company’s fleet.

 

23. Tanker Servicing

Another company that can be a good start-up as it is associated with the oil and gas industry is the maintenance of petroleum tankers.

These tankers, like all trucks on the road, and perhaps even more so need to undergo a rigorous safety and maintenance schedule.

Your company that services these tankers could make significant amounts of money in ensuring that the tankers are safely operated on the roads.

 

24. Cooking Gas Cylinders

Another manufacturing company that can be considered as it relates to the dispensing of propane is the production and sale of quality cooking gas cylinders.

It can be argued that this industry is increasing as less reliance is used on outdoor cooking by burning charcoal and is more engaged in using propane.

Additionally, many families choose to have more than one cylinder on hand if they forget to refill or have a backup plan if emergency food needs to be prepared.

 

25. Pumping Machines

As it relates to gasoline, an important mechanical device at service stations is the actual pump utilized to transport the gas into the vehicle.

These devices are highly calibrated and if used frequently, will often need to be recalibrated and sometimes replaced.

Therefore, a possible business idea to make money as it relates to the oil business is the construction, installation, and calibration of service station pumping machines.

 

Personal Story

There are many types of oil as it relates to purchasing a vehicle.

As a young sailor, I had just transferred to a new duty station and needed a vehicle to visit a special someone in my life.

I ended up buying a Toyota Corolla four-door used vehicle from a Navy chief who said that the car was running fine.

Being the young gullible sailor that I was, I took the senior petty officer at his word and sealed the deal by paying him $500 to obtain the title.

I quickly realized that there were two oils involved with the purchase.

First of all, in addition to consuming gas, the car also burned excessive amounts of oil and I found myself having to put several quarts of oil in quite regularly.

The other involved oil was snake oil as I believed what the senior sailor had shared with me and I was bitten by his assurances that the car was “seaworthy” and would serve me well.

From the purchase of my first car, I got a real education as it relates to snake oil and motor oil.

 

Money Making Oil Business Ideas FAQs

 

How Much Does It Cost to Produce a Barrel of Oil?

The cost of production of producing a barrel of the oil depends upon where the oil is drawn from.

For example, if a barrel of oil is produced from the desert of Saudi Arabia, the cost per barrel could be $20.

However, for a barrel of oil that is produced from deep-sea drilling, the cost of gathering that oil could be upwards of $90.

 

How is Oil Produced Through the Oil Refining Process?

In simplistic terms, crude oil is heated in a furnace until the majority of the oil is transformed or vaporized into a gas.

This then goes into a distillation process which separates the liquids and the vapors and ultimately, gasoline vapors are collected which are eventually produced into gasoline.

 

You Can Do It

The oil and gas industry is a significant part of the economy of the United States.

This is due to the reality that many companies can be built and operated around this commodity.

There are many opportunities and business ideas related to the oil and gas industry in which significant amounts of money can be made.

The other side of the coin is that often, the start-up of these companies is going to require significant capital funds.

 

Conclusion

Out of that same barrel of oil can be manufactured many petroleum-based products.

Equally, out of that same barrel of oil are numerous companies that can continue and be started as part of the process of meeting the energy needs of America and its continued dependence upon this fossil fuel.