As nouns the difference between turpentine and terebene

is that turpentine is a volatile essential oil obtained from the wood of pine trees by steam distillation; it is a complex mixture of monoterpenes; it is used as a solvent and paint thinner while terebene is any of various preparations, composed mainly of terpenes, obtained from camphor or turpentine by several chemical methods, used as an expectorant and antiseptic.

As a verb turpentine

is to drain resin from (a tree) for use in making turpentine.