Peanut Oil Peanut Oil, also known by other names such as groundnut oil and arachis oil, is a type of vegetable oil commonly used in cooking that is derived from Peanuts. It comes in a number of varieties, including refined, unrefined, roasted, and cold-pressed, which have slight differences in their nutritional value and health benefits. Benefits of Peanut Oil: Controls Cholesterol Levels Boosts Heart Health Prevents Cancer Lowers Blood Pressure Prevents Cognitive Disorders Skin Care Boosts Immune System