Yes. We use both. Why?
Essential oils are natural aromatic compounds extracted from seeds, bark, stems, root, flowers, and other parts of plants. The problem with essential oils is not every scent can be extracted from a plant.
Bourbon, leather, sea salt, and fresh linen are some examples of scents that can't be extracted from a plant. These can only be replicated through synthetics.
Virtually every popular cologne uses fragrance oils, or blend of fragrance oils and essential oils.