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Chemical study of petroleum as it is extracted from its wells to its different bi-products is petrochemistry. On the other hand studying biological effect of different chemicals (mediciens, bacteria etc) , their laboratory preperations etc. comes under the perview of bio-chemistry. Bio-chemistry may contain a product from petrochemical industry but the reverse is not true.
Petrochemistry is a branch of chemistry that studies the petroleum and natural gas and Biochemistry is the branch of science concerned with the chemical processes which occur within living organisms.
Petrochemistry is a branch of chemistry that studies the transformation of crude oil (petroleum) and natural gas into useful products or raw materials.
Biochemistry is the branch of science concerned with the chemical and physico-chemical processes and substances which occur within living organisms.