A lipid composition for preparation of cosmetic compositions is provided by a mixture of, by weight based upon a weight of the lipid composition, from 40% to 60% apricot kernel oil, from 10% to 20% of an oil containing palmitoleic acid, from 15% to 25% of olive oil and from 20% to 30% of rice bran oil or sesame oil or combinations thereof. Cosmetic compositions containing the lipid mixture may be anhydrous or contain water. The preparation of the lipid composition may include treating the mixture of oils with steam at a temperature of about 180.degree. C. for about 3 hours at a rate of about 1% per hour and under a vacuum of about 1 mbar to 2 mbar for deodorizing the oils.