5 Crude Oil Mining Business Success Stories [2024]

Pat Walls

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Updated: July 24th, 2023

Start A Crude Oil Mining Business

Crude oil is a naturally occurring petroleum product composed of hydrocarbon deposits and other organic materials. The largest share of crude oil is used for energy carriers that can be combined into gasoline, jet, fuel, diesel, and heating oils.

The global demand for crude oil is estimated at slightly below 100 million barrels per day.

With the high demand, starting a crude oil mining company could be a profitable business. To start, you will need crude oil mining equipment and a license from the regulatory arm of the government. Ensure you insure your mining equipment and staff, and meet the legal/licensure requirements.

Here are some real life success stories of starting a crude oil mining business:

Learn more about starting a crude oil mining business:

Where to start?

-> How much does it cost to start a crude oil mining business?
-> Pros and cons of a crude oil mining business

Need inspiration?

-> Examples of established crude oil mining business

Other resources

Part of

Starting A Crude Oil Mining Business: Everything You Need To Know

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3. Vitol

Vitol is an energy and commodities trader. Every day we use our expertise and logistical network to distribute energy around the world, efficiently and responsibly

Where they're located: City of Saint Louis, Missouri, United States

4. Gunvor Group

Where they're located: Kannavia, Cyprus, Cyprus

3. Vitol

4. Gunvor Group

5. Oil In Uganda