Start a Petroleum Business
Petroleum businesses either store petroleum products or provide customers with various types of petroleum products such as diesel, unleaded gasoline, kerosene, and liquefied petroleum gas.
In starting a petroleum business, you need to consider what type of petroleum gas you will be selling.
Determine if you will be able to gain a percentage of the current market against your possible competitors. The place is also an important thing to consider, if you are planning to put up a gasoline station, a place where there are no existing gasoline stations is ideal to start your business. If it is also possible, you have searched for a place where a lot of vehicles pass by.
Capital also plays an important role in putting up a petroleum business. This will help you to determine what type of petroleum gas you will be able to purchase and sell. Remember that if you put in a larger capital, you will gain larger profit too. Knowledge of the business field would also give you an advantage over your possible competitors.
Petroleum business can be classified into three categories namely upstream, midstream, and downstream.
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The following are the classifications of a petroleum business:
- Upstream - this requires a large amount of capital, making it almost impossible for a single proprietor to put up.
- Midstream - this type of petroleum business mainly deals with the storage of petroleum products in large quantities. It also requires a large amount of capital. Owners of this type of petroleum business can rent Tank Farms to store petroleum products. The demand for this type of petroleum business is high that is why if you invest in this type of petroleum business, the possibility of gaining a large amount of profit is also high.
- Downstream - this category deals with the distribution of petroleum products. An example of this category is a gasoline station. The marginal profit of this type of petroleum business is lower than the two types of petroleum business above but the frequency of the customers could bring a substantial amount of revenues.
In starting any type of business, insurance is a must to protect not only your business but also the people who work for you. Seek advice from people who actually have experience in doing this type of business. Preferably, consult people who actually own a petroleum business. Shopping around for insurance companies will help you to decide which insurance policy will best suit your business.
After considering the things above, the next step is to obtain certain legalities, such as a business permit or permit to operate. You can consult a lawyer regarding this matter to ensure that you do not violate any laws. Or you can go directly to your city hall and inquire about the requirements in obtaining such legalities.
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761 Comments
- Where do i start, i live in South Africa and there are many places where i see that petrol is needed, where and how to start.
- I want to start a petroleum business in Ghana Acrra. I need some professional ideas and how much capital will be require to commence this business. Thanks.
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- Australia melbourne, victoria. i am only young but i am looking at opening a petrol station and one has recently just closed down not far up the road from me and all the pumps and existing shop front is still there i would like to know how much it would around about cost to get one started and who to contact and what would be the best way to source out the best price on fuel to see what is actually possible to make money thank you very much.
- India {Goa} Margoa, i am young & looking out for start a petrol station . I need some professional advice & ideas to start my business. At the same i want all the needed information like the best way to source out the best price on fuel to see what is actually possible to make finance & all. Awaiting for your kind reply.Thanks.
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- I have a dream to open an petrol station at Limpopo. Please guide me as soon as possible. I would like to know idea expenses.
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- Am interested a putting-up a gasoline station (downstream business). How do I start with the business? Is there a book where I can read on how to start up the business? I am residing at South Jersey, USA. Thanks...
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- Hi there, In order to start a petroleum distribution or filling station the best is to contact TOTAL or SASOL, BP, etc. They will guide you on the proper channels. Department of Energy's website will also be helpful in this regard as you need to understand the legislation and regulation in the industry. Regards
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- Sir, I want the required minimum size of plot to apply for petrol pump in the outskirt of Dehra Dun. The area is under the preview of Mussorie DehraDun development authority. Thanks Meenakshi
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- Hi, I am Oscar Ugboh from Nigeria. I happen to be actively involved in the petroleum industry which is the mainstay of my country, Nigeria's economy. Presently I am based in Lagos,Nigeria with a market size of over 18 million ready customers and I'm seeking investors to partner with me in the establishment of a petrol filling station on a cite duly approved by the department of petroleum resources here in Nigeria. Investors are guaranteed on adequate return on investments. The business location is at lagos, nigeria. U can call me for further inquiries on +2348162655771 or email me at (vision2017@yahoo.com). Thanks
- I want to start a small petrol station ..What is the starting investment cost required ?
- I WANT TO OPEN PETROL PUMP IN KUTCH SO PLZ TELL ME HOW MUCH CAPITAL IS REQUIRED WHAT SHOULD I HAVE TO DO
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- Pls give me an advice if I should form public or proprietary company for a purchase of multi-million-dollar petroleum distributorship. What factors would I take into account? Thank You!
- Hi, my name is Sthembiso, I'm 27 years of age and I live in South Africa, Northern free state in town call sasolburg. I'm interested in starting a petrol station and a convenient store in my local area, as there is only 1 petrol station in my area and it often runs out of petrol and it opens in daytime and closes in the evening. So this would advantageous for me and the resident of area to have an all nyt petrol station and a convenient store, and it will also beneficial to the community in terms job creation to the community. My contact details are as follows: 0795266716. Thank you.
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