Oblivion Remastered haven't changed very much, the UI is certainly sleeker and sharper with less overall jank. If you're already familiar with Alchemy in Oblivion, you should mostly understand what's ...

Oblivion Alchemy is used to craft potions and poisons — beverages to restore health and magicka, and vials of debilitating liquids to chug, throw, or apply to your weapons for extra damage.

Alchemy in Oblivion Remastered is the ability to make potions, as they can help your character heal, regain magicka, boost stats, or even poison enemies.