What Is Frankincense Good For? 8+ Essential Oil Uses & Benefits for HealingEssential oils have been used for thousands of years for their therapeutic and healing properties as part of the practice of aromatherapy. They''re sourced from leaves, stems or roots of plants that are known for their health properties. So then, what is frankincense essential oil? Frankincense, sometimes referred to as olibanum, is a common type ofâ?¦ Interested in this product?