Olive pomace oil is olive oil that is extracted from olive pulp after the first press. 

It is a refined oil, which has a mild taste to it.

Once the mechanical oil extraction of olive oil is complete, approximately 5-8 percent of the oil remains in the pulp, which then needs to be extracted with the help of solvents, an industrial technique used in the production of most other edible oils including canola, peanut, sunflower, etc.

Has some health benefits but not as much as other types of oils. 

Usually used for deep frying,  but is still good for human consumption