The selective conversion of asphaltenes to light products while inhibiting coke formation is the most challenging in the heavy oil upgrading process. Herein, single- and two-stage slurry-phase catalytic hydrocracking of vacuum residue (VR) at various reaction temperatures (350–430 °C) were performed to elucidate the advantages of low temperature conditions and the synergistic effect of two-stage operation on asphaltene conversion. Despite the slow reaction rate at a low reaction temperature, almost no coke was produced, and the selective conversion of asphaltene to deasphalted oil (DAO) was improved with a large amount of H2 consumption. To overcome the low reaction rates at low temperatures, catalytic hydrocracking was performed at two-stage temperatures (380 and 430 °C). Two-stage catalytic hydrocracking showed a synergistic effect of suppressing coke formation while maintaining an enhanced reaction rate compared to single-stage catalytic hydrocracking. This is because the first stage of hydrocracking at 380 °C facilitates the saturation of heavy polyaromatic molecules, which can easily crack in the second stage at 430 °C. However, because two-stage hydrocracking requires a slightly longer reaction time than single-stage hydrocracking to achieve the same conversion, the efficiency of asphaltene conversion must be considered by setting appropriate operating conditions.
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