By interaction of cotton-seed oil triglycerides with monoethanolamine monoethylolamide of cotton-seed oil acid fraction is obtained which is further phosphated by orthophosphoric acid. The obtained phosphate-derivative is reacted with mono-, di- and triethanolamine synthesizing respective ethanolamine complexes. The structure and composition of these complexes were identified by NMR (1H and 13C) and IR-spectroscopy methods. Some of the physico-chemical indices of the ethanolamine complexes have been determined. By stalagmometric measurements their high surface activity at the water–kerosene border has been shown. Laboratory tests revealed strong petroleum collecting and dispersing properties of these complexes that enable to remove thin petroleum films from the water surface.