Oh man, its funny that you say that because I hate the stuff xD.
I'm not usually super sensitive to comedogenic ingredients (my acne is all hormone) but my face hates petroleum derivatives. I used it for a few months and the coverage was nice (though not waterproof, which is occasionally a problem) and realized it was making me break out even worse. I think there was a petroleum derivative and also corn oil (clogged pore city) which didn't agree with me.
To answer the other poster's question though, I love-love-love Make Up For Ever's Full Coverage Concealer! The coverage is the same (if not, imo, a little stronger since it layers well) but it never makes me break out, and I find it lasts a lot longer since it sort of drys to a matte finish and stays put. And I love waterproof, especially for summer nights where I may end up alternately sweating and jumping in a pool xD.