CO Hydrogenation process using steam and molybdenum oxycarbonitride catalyst

A process for preparing paraffinic hydrocarbons including linear and branched C.sub.1 -C.sub.10 carbon chain number comprising contacting a gaseous mixture of CO and steam in a CO/steam volume ratio of 10:1 to 1:10, respectively, with a catalyst comprised of molybdenum oxycarbonitride, at a temperature in the range of about 100.degree. to 600.degree. C., a pressure of about 0.1 to 100 MPa, and a space velocity of about 100 to 50,000 v/v/hr., and recovering product paraffinic hydrocarbons.