Benzyl Benzoate L

Benzyl Benzoate Lotion contains not less than 26.0 percent and not more than 30.0 percent (w/w) of C14H12O2.

Benzyl Benzoate 250 mL
Triethanolamine 5 g
Oleic Acid 20 g
Purified Water 750 mL
To make about 1000 mL

Mix the Triethanolamine with the Oleic Acid, add the Benzyl Benzoate, and mix. Transfer the mixture to a suitable container of about 2000-mL capacity, add 250 mL of Purified Water, and shake the mixture thoroughly. Finally add the remaining Purified Water, and again shake thoroughly.

Source: U.S. Pharmacopeia
"Benzyl Benzoate Lotion USP is an example of a lotion that is also an emulsion. The formula and method of preparation are:

Benzyl Benzoate 250 mL
Triethanolamine 5 g
Oleic Acid 20 g
Purified Water qs 1000 mL

Mix the triethanolamine with the oleic acid, add the benzyl benzoate, and mix. Transfer the mixture to a suitable container of about 2000 mL capacity, add 250 mL of purified water, and shake the mixture thoroughly. Finally add the remaining Purified Water, and again shake thoroughly.

Triethanolamine forms a soap with the oleic acid and functions as an emulsifying agent to form a stable product. This type of emulsifying agent is almost neutral in water and gives a pH of about 8 and thus should not irritate the skin.

Certain lotions tend to separate or stratify on long standing, and they require a label directing that they be shaken well before each use. All lotions should be labeled "For External Use Only." Microorganisms may grow in certain lotions if no preservative is included. Care should be taken to avoid contaminating the lotion during preparation, even if a preservative is present."

Source:
Remington: The Science and Practice of Pharmacy
edited by David B. Troy, Paul Beringer
pg 773
Here are two references for Benzyl Benzoate Lotion 25%
Benzyl Benzoate Lotion 25% — Formula and mixing directions