The reversible esterification reaction of petroleum naphthenic acids with acetylenic alcohols in the presence of homogeneous and heterogeneous acid catalysts was investigated. The optimal parameters of the process were determined and its kinetic features were investigated. It was found that propargyl alcohol is more reactive than its dimethylated analog. It was shown that propargyl esters of petroleum naphthenic acids can be used as anticorrosive additives for motor oils.