38 Oil and Gas Business Ideas You Can Start Today [2024]

Updated: July 24th, 2023

Interested in starting a oil and gas business in 2024?

We put together 38 of the best oil business ideas you can start today.

We'll show real-world examples of other oil and gas businesses for each oil and gas business idea to help you see what it takes.

Here's the full list:

1. 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.

2. Start an oil production business

The oil manufacturing business is highly profitable small scale business and can be started with little money. Oil is used for various purposes like cooking, manufacturing soaps, cosmetics & hair products.

Oil can either be produced at home or in manufacturing units depending on the scale you want. The most important aspect is maintaining consistency in quality & hygiene standards. If that is maintained then you can easily create your own brand of oils & even start exporting.

How much you can make: $29,000/month

How much does it cost to start: $4,970 (?)

How long does it take to build: 60 days (?)

How I Started a $348K/Year Natural Bath and Body Products Business

Thulisa Naturals founder, Anusha Moodley, shares the journey of building her natural bath and body product company, which boasts a 25% post-tax profit after generating $29k in monthly revenue and expanding into 123 retail stores across the US.

Anusha started Thulisa Naturals over 9993 years ago
Anusha grew the business to $29K/month
It cost Anusha $4970 to start the business
Read by 3,923 founders

3. Start a cooking gas cylinders production

The market research report shows that global natural gas will witness strong growth in the coming decade.

With the increased demand for natural gas comes the demand for gas cylinders used for packaging and transporting natural gas. Therefore, if you want to start a metal business, you may consider manufacturing gas cylinders.

To start the gas cylinder manufacturing business, you should partner with a reliable metal supplier and work with the LPG manufacturers to meet their specifications.

4. Start a health and safety training business

The health and safety business focuses on creating a safe workplace by instituting measures to prevent accidents and ensure employees' general wellness.

Health and safety professionals work with businesses to implement an employee health and safety program, ensuring compliance with the regulatory laws.

The U.S Bureau of Labor Statistics reports that the demand for safety professionals will grow by over 11% in the coming decade. The statistics show a mushrooming demand for health and safety experts. In that regard, starting a health and safety business can be profitable.

How much you can make: $650,000/month

How long does it take to build: 90 days (?)

I Built A Health & Safety Training Business That Makes 1.8M/Year [From Australia]

This case study follows the story of Brendan Torazzi, the CEO of AlertForce, a health and safety compliance training business that reached a peak turnover of almost $5 million per annum but currently remains highly profitable, and how he prioritized his lifestyle and leveraged technology to build a successful business, as well as lessons on the power of being the first and being agile.

Alert started AlertForce over 17 years ago
Alert grew the business to $650K/month
It cost Alert $200000 to start the business
Read by 2,919 founders

5. Start an oil and gas machines and equipment manufacturing business

The oil and gas industry uses equipment designed and manufactured using high-quality materials. The primary equipment used in the oil and gas industry includes tank vessels, heat exchangers, air coolers, evaporators, towers, etc.

One way to start an oil and gas-related business is to become a manufacturer or supplier of oil and gas exploration equipment. In this business, you must meet the highest manufacturing standards required by the oil & gas exploration companies.

How much you can make: $142,000/month

How long does it take to build: 100 days (?)

I Bought A Dying Used Machinery Marketplace And Grew It To 1.7M$/Year

French entrepreneur Thomas Bordier took over a failing B2B marketplace in 2003 which now grows the industrial machinery resale market with 300 yearly auctions and an annual $1.7 million turnover from over 25 million worldwide assets promoting offers for over 600 transactions yearly and now launching a new project, Valorexo to create better pricing for used machinery.

Thomas started Exapro about 20 years ago
Thomas grew the business to $142K/month
It cost Thomas $30000 to start the business
Read by 4,204 founders

6. Start an oil spillage cleaning business

Oil spillage creates a serious environmental hazard and can cause serious accidents. Spills occur due to broken pipelines, road accidents involving tankers ferrying oil and gas, and spillage from oil vessels, causing severe threats to marine and coastal environments.

The oil spill cleaning business can be a lucrative and profitable startup. Although there Is a vast market demand for oil spill cleaning, success in this business depends on your ability to build an extensive network.

7. Start an oil and gas servicing business

Also known as well servicing, oil and gas services include logging, cementing, casing, perforating, fracturing, and maintenance.

Oil and gas companies do not usually own equipment or employ well-servicing staff. Instead, they hire professionals to service the wells, and these contractors charge them based on the time they worked for the company.

8. Start a gas plant servicing business

Gas plant maintenance is key to oil and gas installations' safety and operational efficiency.

The common activities in gas plant servicing include responding to equipment breakdowns, detecting and repairing gas leaks, and repairing and manufacturing control panels.

Gas plant maintenance companies typically employ preventive and predictive maintenance techniques to ensure that gas facilities comply with international quality standards. Rather than invest in maintenance equipment and staff, Oil and gas companies prefer to hire plant maintenance professionals to provide routine maintenance.

Therefore, starting a gas plant maintenance company can be lucrative.

9. Start an oil and gas radio talk show business

Oil and gas radio shows provide their fan base with a roadmap for understanding the oil and gas industry.

The radio shows discuss opportunities and challenges within the oil and gas industry and bring together professionals to evaluate the markets. Contrary to popular belief, you do not need expensive high-end equipment to start your oil and gas radio show.

You can launch a radio show in minutes if you have access to an internet connection, a microphone, and a broadcasting platform. However, if you intend to air your shows through FM/AM, you need an airwave license.

10. Start a gas station

Fuel demand is constantly increasing, confirming the narrative that "economies run entirely on gasoline." With millions of vehicles on the highways daily, the need for gasoline will keep rising.

Owning a gas station may make a sound investment decision. Additionally, gas stations aren't limited to motor fuel and motor-related products. The owners of gas stations also operate convenience stores, car washes, and service bays.

Starting a gas station can be a lucrative business opportunity.

11. Start a refinery construction business

Oil refinery companies often do not have inhouse-engineers tasked with constructing the oil refineries. Instead, they hire independent contractors to design and construct oil refineries. As fuel shortages hit the global economies, there will be a need to construct more oil refineries. Thus, starting an oil refinery construction company could be long-term profitable.

12. Start an oil tank farming business

A tank farm, often called an oil depot, is a continuous area with all tanks and equipment used for field storage of oil in tanks. LPG and other petroleum products are stored in tank farms before being sent to end consumers or retail facilities.

As new gas stations arise and existing ones seek to expand their operations, oil tank farming will continue gaining popularity. Therefore, starting an oil tank farming business can be a profitable venture.

13. Start an oil and gas tv program business

Oil and gas TV programs provide their fan base with a roadmap for understanding the oil and gas industry.

These TV programs discuss opportunities and challenges within the oil and gas industry and bring together professionals to evaluate the markets. Contrary to popular belief, you do not need expensive high-end equipment to start your oil and gas TV programs.

You can launch the shows in minutes if you can access an internet connection, a microphone, a recording camera, and a broadcasting platform. To air the programs through a TV channel, you will need a license from the relevant authorities.

14. Start a cooking gas station business

Estimates show that global LPG consumption is set to increase.

A critical factor that positively impacts the market is the augmenting growth in the automotive industry and the increasing requirement for energy-efficient fuel. Furthermore, widespread adoption by domestic end-users is boosting the cooking gas industry.

Therefore, starting an LPG refilling station might be a profitable venture.

15. Start a private petroleum refinery business

There are two oil refineries in the United States: public and private. Private refineries, or "single-purpose refineries," process crude oil only to produce refined products. Public refineries, on the other hand, process crude oil for sale to other companies or individuals.

There are 140 public refineries in the U.S. and about ten private refineries.

Starting a private oil refinery depends on how much money you have available to invest in equipment and personnel. Private refineries require several licenses and certifications to operate.

16. Start an oil and gas consultancy business

Oil and gas consultants help their clients through the processes of exploration and production, midstream operations, marketing, and equipment manufacturing. Typically, the consultants oversee drilling, completion, and production operations in the oil and gas industry.

Oil & gas consultants stay on site for weeks as a sign, that they are committed to ensuring the projects attain the results.

How long does it take to build: 360 days (?)

17. Start an oil and gas magazine publication

Oil and gas publications provide information on how to make better decisions for oil and gas companies or the employees that work there.

These publications may also help readers stay updated with new technologies and tools in their industry.

For example, Oil & Gas Journal sees over 100k visitors to its website every month.

How much does it cost to start: $500 (?)

How long does it take to build: 60 days (?)

18. Start a gas pipelines investment business

Gas pipeline companies tend to generate steady profits. Typically, a gas pipeline company earns income whenever gas or oil flows through its infrastructure. Therefore, laying a gas pipeline and leasing it to a petroleum and gas refinery company could be a lucrative venture.

19. Start a crude oil shipping business

Tanker companies specialize in the transportation and storage of crude oil from the extraction facility to the refinery.

Companies that own tankers lease them to the oil extraction companies and charge per trip or otherwise as defined in the engagement contract.

Launching now crude oil shipping company is not as difficult as you may think. With a fleet of tankers, you can approach a crude oil manufacturer and sign-off a crude oil transportation agreement.

20. Start a natural gas business

It is worth noting that natural gas is a fossil fuel that is not renewable.

Natural gas companies use natural gas to produce electricity and heat. They are also involved in the transportation of resources through pipelines.

The business of natural gas has many risks associated with it. One such risk would be that if there are any accidents in the pipeline system, then there could be serious consequences for the company and the people living around it.

21. Start a petroleum products haulage business

Petroleum products haulage businesses focus on guaranteeing a continuous supply of these products. Petroleum products can be transported via rail, trucks, tanker vessels, and pipeline networks.

Transportation of petroleum products is a lucrative business venture. To meet the demand for oil and other petroleum products, haulage companies must invest significantly.

22. Start a lubricant production business

As the economy grows, manufacturing production increases and motor vehicles become more prevalent, lubricant demand will grow.

This has led to a rise in the number of businesses that produce lubricant products. You can start a lubricant production company in your backyard.

The first step would be to find a supplier who can provide raw materials at competitive prices. You also must invest in equipment like mixers, tanks, conveyor belts, etc. Once this is done, one would need to start making the product and marketing it online or offline.

23. Start a petroleum tankers sales business

As the demand for petroleum products increases, exploration, and oil refineries will also increase their production capacity to match the demand. Ultimately, there will be increased demand for petroleum products haulage services.

Starting a petroleum tankers sales business in 2024 could be a lucrative venture.

24. Start a cooking gas retailing business

It is estimated that the global market for cooking gas will reach more than $400 billion within a decade. With more people switching to cooking gas, gas retailing will become a more lucrative opportunity.

25. Become an aviation fuel supplier

Aviation fuel is the fourth most commonly used petroleum product in the United States.

The country's aviation fuel demand will continue to rise as more jets and airplanes are registered.

As a result, aviation fuel supplies might prove profitable.

26. Start a filling station construction business

Globally, fuel demand is constantly increasing, a trend that is making gas stations more profitable. Thus, more entrepreneurs are starting gas stations at strategic locations where they can distribute fuel to consumers.

Are you a construction contractor looking for opportunities within the oil and gas industry? Consider starting a petrol station construction company.

27. Become a diesel supplier

Global oil consumption is estimated at approximately 100 million barrels per day. Diesel has the highest value in volume among the fuels consumed globally.

Therefore, starting a diesel distribution business opens opportunities to earn more profits from your business. To start a diesel distribution business,

To start a diesel distribution company, you need to obtain a license and permit in your area. You must also secure a strong source of capital so you can build stock reserves for your business to remain operational.

28. Start a petroleum tanker servicing and maintenance business

As fuel demand intensifies, more entrepreneurs have started their own petroleum tankers business, a trend that has opened up business opportunities.

One such business opportunity is petroleum tanker servicing. Petroleum tankers require regular servicing and maintenance to keep them in good working condition. The servicing includes cleaning the tankers and checking and fixing any leaks before loading the tankers.

Are you interested in starting a business that relates to oil and gas? Consider starting a petroleum tanker servicing and maintenance business.

29. Start a lubricant oil retail shop

As the economy grows, manufacturing production increases and motor vehicles become more prevalent, the demand for lubricants will keep growing.

You can profit from the increasing demand by setting up a lubricant retail shop. To start a lubricant retail business, find a location, select the products, and decide on pricing.

Create an online presence to maximize your reach and ensure you have enough inventory for your customers.

30. Start a petroleum tank farm servicing and maintenance business

Tank farm servicing entails cleaning and inspecting all services, including non-piggable pipelines and tank floors. According to market research, the global petroleum tank cleaning market is expected to reach $1.3 Billion in a few years.

Cleaning and inspection of tank farms after a certain period is mandatory, per the oil & gas regulations. In that regard, there is a ready market for a tank farm cleaning and servicing startup.

31. Start a natural gas future investment business

According to research, the demand for cleaner fuel should continue to grow in the coming years. The need for cleaner energy should continue to grow in the coming years, a trend that will favor natural gas stocks.

Consequently, starting a future natural gas investment business could be a good investment over the long term.

32. Start a custom oil and gas software application business

The oil & gas industry uses custom software applications to automate and generate relative business intelligence. The oil and gas industry is known to be an incredibly competitive and lucrative industry.

If you are a software developer, you can start developing innovative software solutions that increase operational efficiency and allow faultless procedures at every stage.

33. Start an oil and gas exploration and drilling business

Oil and gas exploration encompasses the processes and methods involved in locating potential oil and gas drilling and extraction sites. Starting an oil and gas exploration business can be a lucrative business idea. However, the processes and systems involved in oil drilling and exploration are highly complex and capital intensive.

34. Start a kerosene retailing business

Kerosene is used for varied applications such as cookstoves, space heaters, water heaters, and light lamps. The global kerosene market is segmented into North America, Europe, Asia, the Pacific, Latin America, the Middle East, and Africa.

Starting a kerosine retail shop in those areas could be a lucrative venture. To start a kerosine retail shop, you must apply for relevant licensing from the government authorities.

35. Start an oil and gas university

Oil and gas is a lucrative industry and attracts many people who wish to work for companies and businesses in the related area. To work for an oil and gas company, one has to complete the prerequisite courses.

Are you interested in starting a course but unsure which niche to focus on? Consider starting the oil and gas training institute. The oil and gas course provides students with basic knowledge and understanding of the oil and gas industry.

36. Start a pipe installation business

The United States of America and most developed countries rely on pipelines as a safe means to transport petroleum products and gas. There is no doubt that oil and gas pipeline construction is a lucrative business.

You will need all the necessary permits before legally launching a pipeline construction company.

37. Start a petrochemical refining plant

Starting a petrochemical refining plant can be a highly lucrative business that presents exceptional opportunities for enterprising entrepreneurs to create new businesses. However, starting your business in the oil and gas industry can be lengthy.

Follow the detailed procedure and apply for the necessary licenses.

38. Start a petrochemical refining business

Starting a petrochemical refining plant can be a highly lucrative business that presents exceptional opportunities for enterprising entrepreneurs to create new businesses. However, the process of starting your business in the oil and gas industry can be lengthy, it does not have to be tedious or frustrating.

Follow the detailed procedure and apply for the necessary licenses.

meet the author
Pat Walls

I'm Pat Walls and I created Starter Story - a website dedicated to helping people start businesses. We interview entrepreneurs from around the world about how they started and grew their businesses.