There are two major classification of petroleum industry by sector. These are the Upstream and Downstream sectors. Activities in the upstream sector include:
- Geodetic survey
- Civil works such as site surveys and preparation of drilling locations
- Seismic data acquisition
- Drilling operations
- Geological activities
- Crude oil transportation and storage
- Exploration and production
The downstream sector of the petroleum industry which is the focus of this Business plan is characterized by activities such as:
- Crude oil and gas conversion into refined and petrol chemical products
- Gas treatment
- Transportation and distribution of refined products
It became the policy of the federal government that petroleum products be distributed by private companies. To this end, government divested a sizeable portion of its interest in oil marketing companies by selling some of its share to the public through the Technical Committee on privatization and commercialization. Thus in 1978, the concept of independent petroleum products marketing was introduced with a view to bringing indigenous independent marketers to that sector of the industry. In the downstream sector, activities are progressively falling within the control of private entrepreneurs, especially the indigenous independent marketers.
The purpose of this Business plan is to seek equity funding for a Petrol filling station to locally retail petroleum products (such as Gas oil, Gasoline (PMS), Kerosene and black oil) and? for funding? bulk transactions for petroleum products through direct corporate sales locally and on offshore coastal waters.?The equity contribution would be in form of Letters of Credit and Bank Guarantee lines from local and international banks.