Carbon dioxide (CO2) corrosion is of great concern in oil and gas production, transportation and processing. Despite the fact that steel has low resistance to CO2 environments, it is widely used in the petroleum industry mainly due to economical reasons. The use of corrosion inhibitors is very important in the protection of steels. Most of the inhibitors used in petroleum industry are organic compounds containing multiple bonds in their molecules that mainly contain nitrogen, sulphur, and/or oxygen atoms through which they get adsorbed on the metal surface. However, most of these substances are toxic and using them is harmful for both human health and environment. Therefore, in this work, we accomplished synthesis of new environment friendly effective corrosion inhibitors for oil and gas industry in the protection of equipment and pipelines transporting multiphase systems based on vegetable oils. Vegetable oils are of the greatest interest because of its technological properties, accessibility, and relatively low price. The performed research is indicating that the vegetable oil can be good raw material for preparation of “environmentally friendly” corrosion inhibitors.