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Oleochemical are chemicals derived from biological oils or fats.They are analogous to petrochemicals which are chemicals derived from petroleum.
The hydrolysis or fatty acids and glycerol.
In hydrolysis R´= H. So water (H2O) is added.
RCOOCH2-CHOOCR-RCOOCH2 + H2>O -->
RCOOH-RCOOH-RCOOH + CH2OH-CHOH-CH2OH
If oils or fats are made to react with an alcohol instead of with water, the process is alcoholysis and the product are fatty acid esters and glycerol.
In alcoholysis R´= alkyl group. So alcohol is added
RCOOCH2-CHOOCR-RCOOCH2 + CnH2n+1OH
-->
RCOOCnH2n+1-RCOOCnH2n+1-RCOOCnH2n+1 + CH2OH-CHOH-CH2OH