The focus in this chapter will be on the chemical subset of chelating agents commonly used in the petroleum industry. It will start by defining the functionality known as chelation. It will then share the possible applications of these chelating agents. Such applications include utilizing them as straight acidizing fluids, iron control agents, and inorganic scale removers. The chapter will then compare the corrosivity of these molecules towards typical metals used in industry. Finally, it will touch on the environmental aspect by sharing insights on the thermal degradation profile of the used chelating agents and its impact on nature.