From 1960 to 1984 or so, the porphyrin theory of oil genesis was prevalent, which said that oil could have been derived from plant material and animal blood:
Porphyrins
Porphyrins are organic molecules that are structurally very similar to both chlorophyll in plants and hemoglobin in animal blood. They are classified as tetrapyrrole compounds and often contain metals such as nickel and vanadium. Porphyrins are readily destroyed by oxidizing conditions (oxygen) and by heat.
The origin of petroleum is within an anaerobic (non- or low-oxygen) reducing environment. The presence of porphyrins in some petroleums means that anaerobic conditions developed early in the life of such petroleums, for chlorophyll derivatives, such as porphyrins, are easily and rapidly oxidized and decomposed under aerobic conditions.
Thus geologists maintain that the porphyrins in crude oils are evidence of the petroleum source rocks having been deposited under reducing conditions.
References
1. Tissot, B.P., and Welte, D.H., Petroleum Formation and Occurrence, 2nd ed., Springer-Verlag, Berlin, pp. 409–410, 1984.
2. Russell, W.L., Principles of Petroleum Geology, 2nd ed., McGraw-Hill Book Company, New York, p. 25, 1960.