Petroleum has a wide range of applications in Agriculture, Plastics, Tires, Pharmaceuticals, Dyes, Detergents, and Other. ... Petroleum byproducts like Mineral oil and petrolatum are used in many creams and topical pharmaceuticals. Rubber is obtained from plants which is a natural elastomer and is used in making Tires. It consists of naturally occurring hydrocarbons of various molecular weights and may contain miscellaneous organic compounds. The name petroleum covers both naturally occurring unprocessed crude oil and petroleum products that are made up of refined crude oil. A fossil fuel, petroleum is formed when large quantities of dead organisms, mostly zooplankton and algae, are buried underneath sedimentary rock and subjected to both intense heat and pressure.