Hydroconversion process for petroleum resids by hydroconversion over carbon supported metal catalyst followed by selective membrane separation

A heavy residual petroleum feed boiling above 650° F.+ (345° C.+) is subjected to hydroconversion at elevated temperature in the presence of hydrogen at a hydrogen pressure not normally higher than 500 psig (3500 kPag) using a dispersed metal-on-carbon catalyst to produce a hydroconverted effluent which is fractionated to form a low boiling fraction and a relatively higher boiling fraction which is subjected to membrane separation to produce a permeate which is low in metals and Microcarbon Residue (MCR) as well as a retentate, containing most of the MCR and metals. The process has the advantage that the hydroconversion may be carried out in low pressure equipment with a low hydrogen consumption as saturation of aromatics is reduced.