The earliest mention of Arabka Soudagar oil that I can find through Google Books is in 2003's Candle Therapy: The Magical Guide to Life Enhancement. The first I ever heard of it was in Judika Illes's book of 5,000 Spells. However, as an incense it is listed (as Arab-Ka Soudagor) in the 1974 book Famous Voodoo Rituals and Spells.
The name is probably from the Hindi phrase, Arab Ka Saudagar, which according to an online translator means "Dealers of Arabia." It appears to be a case like Has No Hanna, where a foreign word used for a perfume name was corrupted. I'm being led to think it originated as an incense, for Mysore Sugandhi sells a rose scented blend under the brand name Arab Ka Soudagar. This brand of incense dates back at least to the 1960s if not before. The package artwork features Arabian merchants leading camels packed with goods, and is written in a font that can easily let the words Arab Ka be misread as Arabka.
Alternate spellings for the formula are Arab-Ka Soudagar, Arab-Ka Soudagor and sometimes (especially in magickal texts) simply Arabka. The oil seems to be a kind of Success/Reverse Bad Luck blend, rather like traditional Van Van in use.
Draja Mickaharic claims the formula is mere myrrh, and a popular recipe for the mixture circulating on the internet says it's made from frankincense and tonka bean. However, if the origin is indeed from the Mysore Sugandhi incense, rose would have to be the primary scent.
I've posted before about a little known conjure formula called Arabka Soudagar, which is used by magical practitioners to bring success, good luck, and overcome obstacles. Here's a spell where you can put it to use for yourself:
You need --
A triple action candle (red, white and green)
Arabka Soudagar oil
Shifting Sands oil
Road Opener oil
angelica root powder
Gloria incense
Dress the candle with the three oils and with the herb. Write out your petition for success/change on a small piece of paper, in ink, and place it underneath the candle. (Of course always burn candles in a safe place with supervision.)
Light the incense, and then light the candle, stating again your wish. You can let the candle burn down in one go if your need is urgent, or for stronger results you can burn the candle in increments of 15 minutes a day for as long as the candle lasts. If you burn the candle in sections, burn more incense each time as well.