Can a petrochemical engineer own and run a private enterprise?

As a Petrochemical Engineer, You can start any type of industry or enterprise legally. There is no relation between the business you are going to do and the qualification you have. A person who has an interest in going for a business can go for the irrespective of his. or her educational qualifications. As an industry owner, anyone can hire the required personnel to run the business. These days we will not have any problem in obtaining the technology but managing the business is very important.
Services and industries you can manage as a petrochemical engineer are plenty. The petrochemical industry in India is growing very fast. All polymer and related products will come under the petrochemical industry only. The growth rate of this industry in India is very high. from the beginning. This industry is making a lot of services to the country for the growth and development of manufacturing in India. It serves manufacturing industries like construction, packaging, pharmaceuticals, agriculture etc. Thee are many chances to go for the manufacture of downstream products. Many solvents and other products will have a lot of demand in other chemical industries. Once you complete your education in this line you will get a clear picture of the industry and you will also get guidance from District Industries Centres. Think of completing your studies in the line and then try to do MBA so that you will have both managerial and technical skills required for running an industry/ enterprise.

Taking up the course of petrochemical engineering would provide sufficient knowledge relating to the quality of petroleum products and the art of its refining and how drilling process is effected for its extraction. These engineers have command in Geology, Minerals and the manufacturing products of dyes, solvents, paints and other products.
If an aspirant having the qualification of petrochemical engineering wants to set up any industry, he is free to choose any area of his choice and for the same, there is no restriction from any government agencies.
The applicant is required to submit an application to the inspector of factory apprising of starting up an industry in a specified area providing the details of the industry, strength of employees working over there, procurement of raw materials and probable date of commissioning of plants. This could be Paint, Cement, Rubber, Polyester or any industry for which the aspirant is having keen interest to set up industry.
Then there are other agencies such as Banks for getting the loan sanctioned for setting up business, Environmental Clearance Department, Income Tax Department etc for getting your business approved.
More clarity in the Business Management could be achieved through undertaking a management course from a top business school from where he could learn the different tools enhancing his acumen in the business skills.

Petrochemical industry is a very big industry. The refining of crude oil is a very long process and there are so many products and by products formed in it that the list of items is really very big and may look surprising to a new person. Everything obtained in the processing of crude oil is very valuable and used in so many industries like auto industry, plastic industry, lubrication industry, road construction industry, chemical industry, and so many others.
After going through the petrochemical course you would become aware of all those products which are obtained in the refining of crude oil and natural petroleum gas. So many refineries across the world are taking advantage of refining of petroleum and gas getting valuable products in the petrochemical chain.
So starting an industry in this area would not be a difficult proposition but what you would need is the technical skills for starting a business in this niche area and marketing the product. Once you conceive a petrochemical project then you would need finance for that and you would have to approach the banks for that.
You might have to take help of some consultant who can prepare project report for the particular project that you are interested to take up for starting your business.
For example if you want to make a business in the area of lubricants then you would have to find the bulk suppliers like refineries for it and then create different type of lubricants and pack them and market them by imposing a profit margin on them. On the other hand if you are interested in trading materials like Naptha or Bitumin then you will have to acquire it in bulk from the oil companies or refineries or even import it before retailing them to customer.
It is obvious that for any business certain licensed and approvals are required and for that you would have to take help from some agent or consultant who would help you in completing the paper work related to getting environmental or other local clearances before starting a business. There are some tax concession issues which are also looked up by the said consultant so that you are benefited by the various Govt concessions in the matter.
There are many business ideas that can be attempted in the petrochemical sector. Some are -
1. Providing services for oil and gas production.
2. Opening a petrol pump.
3. Material supply for oil and gas installations.
4. Supply of small cooking gas cylinders.
5. Supply of parts to refineries.
6. Storage and other supply for LNG storage.
7. Business of lubricants.
8. Chemical business linked to petrochemical sector.