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Oil and Gas Business Plan with Wise Business Plans
Corporate oil & gas business plan development.
The Oil and Gas Business Planning industry continues to make new strides in the United States in the oil and gas companies, and many small business owners are finding ways to leverage the booming industry to create their own success stories. However, it takes more than a smart idea to start your engine and race toward success in this competitive field of petroleum.
During May 2020, the amount of gasoline supplied to the market increased to nearly 5.9 million barrels a day, up from 5.1 million in the first week of April but well below the typically more than 9 million before the pandemic. On the other hand, gasoline saw a normalizing demand at around 55%, which improved by 64% during mid-2020. Industry experts expect a slow but steady recovery during 2021, giving hope to the industry operators.
Key Components of Petroleum Business:
- The clarity in Products and Services- The COVID-19 crisis accelerates what was already shaping up to be one of the industry’s most transformative moments. The Wise Business Plans professionals take time to find out which pain point the product or service will be addressing and develop a business plan that accurately communicates it.
- Costing Strategy- The costs associated with embarking upon a business in the Oil and Gas business industry can be challenging, especially in the post-pandemic era. On its current course and speed, the industry could now be entering an era defined by intense competition, technology-led rapid supply response, flat to declining demand, investor skepticism, and increasing public and government pressure regarding the impact on climate and the environment. However, under most scenarios, oil and gas will remain a multi-trillion-dollar market for decades. Given its role in supplying affordable energy, it is too important to fail. The question of how to create value in the next normal is therefore fundamental.
- Trends- Trends are major in all segments of the economy but especially in those that directly impact the atmosphere. “Clients operating in this industry have to be aware of regulations, laws, and standards that are enacted by governing bodies. Without this type of information their business models could suffer significant losses”, says Mr. Ferriolo. “We do exhaustive, real-time research that protects the client and places them in the best possible position to succeed”, says Mr. Ferriolo.
- Innovation- The industry will need to dig deep and tap its proud history of bold structural moves, innovation, and safe and profitable operations in the toughest conditions to change the current paradigm. The winners will be those that use this crisis to boldly reposition their portfolios and transform their operating models. Companies that don’t will restructure or inevitably atrophy.
How To Get Into The Oil Business
In the oil and gas sector, starting your own company requires a lot of capital, time, and expertise. Even so, as this industry produces multi-millionaires and yields a higher ROI than in any other industry, all your troubles and efforts will be worthwhile.
You should focus on these things if you have previous experience in this area and want to know how to start an oil company.
1. Decide Where to Invest
You can have a filling station or you can drill your wells in the oil and gas industry. One can choose from a variety of options: a service company, a product company, or a company that cleans up oil spills.
It is important to determine your motivations and strengths before making any detrimental moves in this field. Getting a sense of the amount of capital needed can help you make the right choice.
2. Make an Oil and Gas Business Plan
You need to make a detailed oil & gas business plan and list all your resources and liabilities after deciding what you want to focus on. It is imperative to include all the projected operating expenses in your petroleum business plans, such as insurance, permits, licenses, salaries, and ongoing expenses.
A business plan for an oil and gas company will serve as a blueprint for your business. Your business plan will be a valuable tool if you are considering applying for a loan or wish to attract investors. In case you have no prior experience creating business plans , In case you have no prior experience creating business plans, you can hire us to assist you.
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3. Identify Your Investors
Once you’ve decided what type of oil business is right for you and calculated the loans and funding you’ll need, the next step is to make sure you can get a fair loan.
To run any company in this field, you will need a fair amount of capital from the very beginning, so you may have to consider finding investors. Don’t worry about the capital Here are 7 ways to raise capital for getting into the oil business:
- Self-Funding: If you look around, you may find the capital you need right in your own home. It may come from your already existing assets or savings. You retain full control of the business by providing the initial capital yourself. Angel investors and even single investors can influence the direction of a company.
- Crowdfunding: A method of raising money from a large number of people. Several people pool their small investments to raise the capital needed to launch a company or project. It’s a win-win situation for you. Currently, U.S. oil is the most popular commodity in the world.
- Angel Investor: Private or seed investors (also called angel investors) are high-net-worth individuals who provide financial support to small businesses in exchange for ownership equity. Furthermore, investors can also offer business advice. Particularly if they have oil and gas industry experience, this may be beneficial.
- Friends and Family: Friends and families are the second-largest sources of business capital in the U.S. A family member will be aware of your work history or management experience. It’s likely that they already know about the potential of your gas or oil share, and may even have helped to acquire it.
- Bank Loan: Getting a bank loan is probably the most traditional way to obtain start-up capital. As the bank wants to ensure that you can pay back the loan, you will likely be required to submit a lot of information during your initial application. Our experienced team has helped our clients raise millions in funding through banks (debt financing) and investors (debt/equity financing).
- Small Business Administration (SBA): Despite its long history, the SBA is still a useful source of funding . They offer federally guaranteed loans of up to $5 million to “small” businesses. Furthermore, you will receive the funding you require without compromising your oil and gas business plan. The loan will also likely have light terms and interest rates. SBA’s goal is to boost the economy. A small business loan is one of the easiest ways to get cash. With decades of experience in business credit and lending, Wise Business Plans is uniquely suited to help you. You are just 4 steps away from getting a small business loan .
Pro Tip: Here is a step by step guide on 5 best places to find a venture capitalist
Wise Business Plans has decades of experience in early-stage investments, so we will help you get your first venture capital investment .
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4. check the regulations.
You should check all the relevant regulations, licenses, and permits , as well as your tax identification number, before starting an oil business. You may be aware of some of them from previous experience, but you should always consult a business or tax attorney when addressing legal issues.
Do You Need a License to operate an Oil and Gas Business?
Wise business plans have eased the process to obtain a business license, which is generally necessary to operate an oil and gas business.
Let Wise help you Get your License to operate an Oil and Gas Business
5. Form a Legal Entity
Those in the group will want to shield themselves from personal liability. You can form a limited liability company (LLC) or an S corporation. An LLC is a flexible entity with elements of both a partnership and a corporation. To simplify federal income tax matters, S corporations elect to pass income and losses on to shareholders.
Need to Register an Oil and Gas Business?
We at Wise Business Plans provide you with a wide range of business formation services for incorporating a company in a way that makes the process easy and allows you to stay focused on other important tasks. Our business formation services include
- Tax ID Number
- LLC Formation
- NonProfit Business Formation
- S Corporation Registration
You can form your business entity in just 4 Simple Steps with Wise Business Plans
Open a Business Bank and Get Credit Cards
Personal asset protection is enhanced when you open specialized business banking and credit accounts.
When your personal and professional accounts are mixed, your personal assets (your home, automobile, and other valuables) are vulnerable if your company is sued.
Furthermore, learning how to establish business credit may assist you in receiving credit cards and other financial resources in your company’s name (rather than yours), improved interest rates, greater lines of credit, and more.
6. Set up a Business Bank Account.
Apart from being a requirement when applying for business loans, establishing a business bank account has several benefits.
- Separates your personal belongings from your company’s assets, which is critical for personal asset protection.
- Makes tax preparation and accounting simple.
- It makes tracking expenses easier and more organized.
Recommended: To discover the greatest bank or credit union, read our Best Banks for Small Business review.
7. Open Net 30 Account
To establish and grow business credit, as well as improve company cash flow, net 30 payment terms are utilized. Businesses purchase products and pay off the whole amount within a 30-day period using a net 30 account.
Net 30 credit vendors are reported to the major business credit bureaus (Dun & Bradstreet, Experian Business, and Equifax Business Credit). This is the way businesses build business credit to qualify for credit cards and other lines of credit.
Recommended: Read our list of the top net 30 vendors guide to start getting business credit or simply open your net 30 account with wise business plans in seconds.
8. Get a Business Credit Card
It’s exciting to open a business credit card for your firm. A business credit card can assist you to establish credit, safeguard your company financially, access rewards (such as cashback), and simplify cash flow. It can also assist you to manage your expenditures.
Recommended: Learn more about the best business cards in our business credit card review.
9. Build a Great Team
When taking on such a venture, human capital plays a crucial role. You must determine how many employees you need to hire and whether they have enough experience and training to do their jobs well.
Here are some useful team-building tips which might help you in building your team.
10. Use Top-Notch Equipment
Make sure you use top-notch equipment to ensure and protect your business and investments. For those who work directly in the oil production sector, it is extremely important to ensure your piping, control, and measuring systems are all up-to-date.
If you plan to start a procurement and supply company, you should include quality general equipment, such as valves, pumps, and generators, along with personal safety equipment. By providing high-quality tubular to your customers, along with other drilling and wellhead equipment, you will stand out as a reliable and conscientious provider.
11. Choose an Exploration Site
Obtain county and/or state permits for drilling and land use. Execute a lease with the property owner and/or the owner of mineral rights once you determine which party owns the property and if there are no prior claims that might affect your exploration.
In case your seismic data indicates there could be a subsurface trap containing significant oil, drill multiple exploratory wells on the site. Provide all necessary supplies and equipment for well capping and storing oil in storage tanks prior to hiring a drilling company for this purpose.
Ensure that you have a plan for containing and transporting any natural gas and oil that may be present in your site’s reservoirs. Roads may need to be built to access the site. Trailers or other structures are necessary for offices and living accommodations. Communication capabilities should also be available at the site.
Business Planning for the Oil & Gas Sector
Vigilance is more than ever needed in crafting a solid oil and gas business plan. Smart planning showing commitment and consistency in intentions will always win financiers’ confidence. As part of that strategy, we’ve identified several key components that every oil and gas startup business plan must address, including:
Luckily, a properly written oil and gas business plan is a key element to the process that can help your business raise the necessary capital to purchase equipment, hire staff, and cover operating expenses as you plan to enter the Oil and Gas industry .
Oil And Gas Business Plan Writing Services
Wise Business Plans has had the privilege and the opportunity to create oil and gas Companies that support business owners in this foundational industry, and we have worked hard to build up a knowledge base and the research skills needed to be the premier online provider of oil and gas business plans.
When you’re ready to jump into the action, we’d love to help you start strong and make a mark in the world of energy production, so contact us today to get started on planning your future success.
Download a sample oil and gas business plans template for FREE to get an idea of the basic elements of oil and gas startup business plan writing. Also, you can quickly check our FAQ page for some basic questions and answers.
Wise business plans also offer a net 30 account application . Net-30 accounts allow you 30 days to pay the bill in full after you have purchased products. Net 30 accounts can also make managing your business finances easier. Apply for your net 30 business accounts now
Need Nearest Business Plan Writing Services
Looking for a professional business plan writing services near me ? Contact us to achieve your company’s goals and get funded.
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Oil & Gas Business Plan Template
A successful oil and gas business is based on a solid business plan. To help you out, we've designed a business plan template PDF specifically for your oil & gas business.
Get your copy today!
Download The Template
For help completing your oil & gas business plan, read our guide .
How can an oil & gas business plan template help you?
- A solid oil & gas business plan acts as your strategy guide for building a successful business.
- Whether you're an existing oil & gas business or just starting out, a business plan helps you get organised.
- Use a oil & gas business plan to help secure funding for your business.
Get your free oil & gas business plan PDF!
Created by tradify - the easiest way to manage your plumbing, oil & gas business..
Are looking to raising capital but overwhelmed with the process of writing a business plan?
Our sample business plans help people write business plans by themselves, saving time, money, and stress.
Here are our sample business plans that you will be proud to show to the loan officer at your bank, investors or your partner.
They are also a map by which guide your business across the marketplace to financial success and personal fulfillment
ABOUT TANZANIA PETROLEUM
Tanzania Petroleum is in the business of better decisions.
Dar es Salaam, Tanzania
+255655376543 [email protected]
VISION AND MISSION
Our Mission: We exist to shape decisions for the better. We believe that better decisions are the root of all success for businesses, projects, individuals and the economy.
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Oil & Gas Industry Business Plan Template
This template is suitable for oil & gas business and includes.
- Business Plan in Microsoft Word
- Financial Projections in Microsoft Excel
- Support (e-mail)
To get customized business plan template you need to provide the following information: 1. Country, State/Province 2. Services, Products, Investments, Revenue target 3. Logo
If you are going to start a business in oil & gas industry, the oil & gas business plan template will help you prepare for a meeting with potential investors..
This business plan template will help you to create professional business plan to break down your costs, so you will know how much it will take to get into the business, including initial investments, direct and operating costs. Oil & Gas Business Plan model will also show you the potential profits from the business.
Our template includes pro forma financials that allows you to change variables and immediately see the impact and a professional and customized Oil & Gas Business Plan Word template.
The Oil & Gas Business Plan template includes:
1. An Introduction to the business including an Executive Summary 2. An overview of industry and target market Market Overview Target Market Industry Analyses SWOT Analyses. 3. Marketing strategy, Sales forecast. Marketing Plan Competition Target Customers Revenue Forecast 4. Operating Plan Location Products Equipment 5. Organizational Structure 6. Financial Plan Funding analysis Direct and Operating Expense Breakdown Profit & Loss Forecast Cash Flow Statement Balance Sheet Main Ratios 7. Appendix
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Oil And Gas Business Plan In Nigeria
OIL AND GAS BUSINESS PLAN IN NIGERIA
This sample oil and gas business plan in Nigeria can be used for government and non – government business grant applications, for bank loan applications, for writing business proposals, for writing business concept notes, for business grant competitions, start – up competitions, other competitions and so on. The oil and gas business plan in Nigeria is probably one of the most lucrative business ideas in Nigeria with the potential for generating huge revenue, it will require a lot of strategic planning to start. You will also need the backing and mentorship of a professional business consultant in Nigeria like Dayo Adetiloye to help you in implementing the business plan
BUSINESS DESCRIPTION OF THE OIL AND GAS BUSINESS PLAN IN NIGERIA Business: OIL AND GAS Industry: OIL AND GAS
PATILAD Oil is a Delta state based corporation that will extract oil from land leases within Nigeria. The company was founded by Aniekan Umoh. As stated above, the company intends to acquire land leases on properties known to have oil deposits. The business will then develop facilities on these properties with the intent to extract and distribute oil for sale onto the open market. The initial capital sought in this business plan will allow the business to acquire its first land lease while concurrently sourcing the equipment necessary to operate a moderate sized oil extraction operation. It should be noted that at all times, the business will comply with all applicable federal, state and local laws in order to ensure the safety of all employees working for the oil company.
The Benefits of our Products and Services are; – All year – round availability of oil products – Employment opportunities for a lot of people – The extraction and sales of high quality oil products – Capacity to deliver across the nation – Provision of community service
PRODUCTS AND SERVICES FOR OIL AND GAS BUSINESS PLAN IN NIGERIA – Sales and supply of premium quality oil, and oil products – Extraction and refinery of oil – Development of facilities for oil extraction services
KEYS TO SUCCESS FOR OIL AND GAS BUSINESS PLAN IN NIGERIA The keys to the success of the oil and gas business plan in Nigeria are: – Low operating cost and extraction techniques – Ensuring an efficient and highly motivated team of staff – Maintenance of health and safety precautions in our facilities – Acquire necessary Regulatory license for our oil company. – Consistent supply of quality oil products and services
OBJECTIVES FOR THE OIL AND GAS BUSINESS PLAN IN NIGERIA The objectives for the oil and gas business plan in Nigeria are as follows: – To have our products and services in major cities in Nigeria – To maintain profit margins at 30-35%, through close attention to expenses, and cost of oil extraction/production – To achieve net profit in year one, increasing in year two through containing costs and meeting sales goals. – To develop a sustainable oil and gas company, surviving off its own cash flow.
GOALS OF THE OIL AND GAS BUSINESS PLAN IN NIGERIA The goals of the oil and gas business plan in Nigeria are the following; – To become a leading oil and gas company in the country within our first seven years – To expand our company across the borders of Nigeria.
VISION OF THE OIL AND GAS BUSINESS PLAN IN NIGERIA Our vision for the oil and gas business plan in Nigeria is; To become the biggest oil and gas company in Nigeria.
MISSION OF THE OIL AND GAS BUSINESS PLAN IN NIGERIA The mission for the oil and gas business plan in Nigeria is; To cost effectively extract oil from known deposits with the intent to sell the refined oil to the open market.
MANAGEMENT TEAM OF THE OIL AND GAS BUSINESS PLAN IN NIGERIA The management team of the oil and gas business plan in Nigeria is made up of the group of the following people;
Aniekan Umoh – ( B.ENG, CCNA,CCNE, and MBA). He is the founder and owner of PATILAD Oil. Mr. Umoh has more than ten years exploration experience, having worked for a leading oil and gas company in Nigeria. Through his experience, he will be able to bring the operations of the business to high profitability within its first year of operation.
Dayo Adetiloye – ( B.AGRIC, MBA and PMP). He has over fifteen years’ experience in business management, business start – up dynamics, financial management if business and overall business growth and development. He is an alumnus of Enterprise Development Centre (EDC), of the Lagos Business School (LBS) Pan African University (PAU). He is our business development strategist and a strategic partner of the company.
We brought to this business; – Educational skill and practical experience in the oil and gas sector – The capacity to consistently delivers outstanding service – Quality processed oil products, with a good understanding of the market trends. – Our staff brings operational, marketing, promotional, and technical skills to the business
MANAGEMENT EXPERIENCE GAINED FOR THE OIL AND GAS BUSINESS PLAN IN NIGERIA Through my ten years’ experience in this industry, and having gained extensive exposure to the practical and scientific aspects of the industry, I have been able to acquire first-hand knowledge of the technical requirements, financial management, staff recruitments and organizational skills among other things which are necessary to give the company a good commendation and quality referrals from our customer/client base. My managerial skill has also helped me in putting together an effective workforce for over two years now. I am the CEO of the company, responsible for overseeing the day to day activities of the company.
Read also: THE COST OF WRITING A BUSINESS PLAN IN NIGERIA
MATERIALS AND EQUIPMENT REQUIRED FOR THE OIL AND GAS BUSINESS PLAN IN NIGERIA The materials and equipment required for the oil and gas business plan in Nigeria are the following: Oil refinery, factory, office building, oil drilling machines, company vehicles, trucks and so on
COMPETITOR ANALYSIS FOR THE OIL AND GAS BUSINESS PLAN IN NIGERIA We expect to get a lot of patronage for the following reasons: – Quality assured standards – Modern solution and technology – Our customer – centric company culture – All year – round availability of oil products in high commercial volumes – Fair and highly competitive prices
Our three main competitive advantages are: 1. Quality assured standards 2. Our customer – centric company culture 3. All year – round availability of oil products in high commercial volumes
To buy the remaining part of this business plan, including the detailed financial analysis, call any of our business plan consultants on 08105636015, 08076359735, and 08113205312. You can send a WhatsApp message or email us at [email protected] or [email protected] .
We help institutions and organizations write concepts, implement Business plans, and train on business Plan writing in Nigeria.
We can help you write a detailed, bankable and comprehensive business plan for your business idea.
Call any of our business plan consultants on 08105636015, 08076359735 and 08113205312
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We need feasibility study for 150,000 BPD Refinery Project in Ghana,Executive summary with business plan if possible drawings kindly reach us on WhatsApp +2347086409043
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