A selective separation and recovery process has been developed based on the supercritical fluid extraction and fractionation (SFEF) technology. The solvent used varies from C3 to C5, depending on process objective. Basic research work has been done on the phase behavior, phase equilibria and modeling of a number of systems including petroleum residue, polymers, waxes and lubricants with the light hydrocarbon solvents. Semi-batch pilot and continuous pilot experiments were performed to establish data base for the process design of industrial scale. The effects of operation para-meters, such as temperature, pressure, ratio of solvent to oil and residence time, on separation selectivity and yield of extracts were studied in a wide range. Industrial demonstration plant with a capacity of 15 kt/a was setup and has run for a sufficient long period of time to confirm the design and to obtain the energy cost and economic analysis data for further commercial scale up. It was found that the process offers high efficient products and solvent recovery.