In pot,add oil,butter and let it melt,add popcorn kernels and mix well.
Cover and let them pop and shake pan in between.
In frying pan,add butter and let it melt,add sugar,mix well and cook on low flame until sugar melts and stir continuously & scrape until it thickens.
Add baking soda,vanilla essence and mix well for 15 seconds.
Now add popcorns and coat well.
In baking tray,add caramel popcorns and let them cool completely & serve.