Greek Sky Olive Oil Pomace with 5% Extra Virgin. Olive pomace oil is a refined oil which is extracted from the olive pomace that is left behind after pressing, and combined with virgin olive oil for use. This pomace oil is great for achieving a silky smooth consistency, similar to that achieved by using first press olive oil, without the strong flavor intrusion of such oil. The lighter flavor and milder olive taste is versatile and won't clash with the other ingredients in your recipes.