The Black Oil Mountain Scenic Area is actually really close to the ski hill in Karamay. We took a taxi from our hotel to Black Oil Mountain Scenic Area at 12 RMB and on our way back we chose to take Bus 103 (at 1RMB) each.
The admission fee was 40RMB each and I thought it was a really great rip-off, but heck we were here so we still went in.
The "mountain" is more like a hill and from the platforms you can still see disused oils still got crude oil bubbling up. But the Karamay in general is flat anyway. According to my environmentalist friend, they didn't decommissioned the wells, but might have just left it open. You can see a lot of other wells are still operating from afar.
If you have nothing else to do in a late afternoon, this place is not a bad scenic choice.