Reading between the lines here..I think Submitter might be thinking about Ghee, or clarified butter. Which is great for frying fish, or in Indian food. It has a high smoke point unlike 'butter', well it is butter with the milk solids removed.

http://www.davidlebovitz.com/2010/03/how-to-clarify-butter-recipe/

It keeps very well in a jar at room temp--a couple of months and much longer in the fridge.

I am not sure what you mean, if you want to fry or saute something in butter flavored oil just add a little butter along with the oil to the pan. If you wanted to make a quantity I wouldn't advise that you do that since the milk solids in the butter would solidify and you would also have a very short shelf life. I do this all the time when I want a buttery flavor and it works quite well.