FIELD: petroleum processing. SUBSTANCE: petroleum hydrogen sulfide and light C1-C3-mercaptans are oxidized by air oxygen unto elementary sulfur and disulfides in presence of non-diluted monoethanolamine or monoethanolamine solution of phthalocyanine catalyst. Monoethanolamine is added to raw material under stirring in amount 0.01 to 0.1 wt % simultaneously with 0.01 to 0.15 cu. m of air per 1 mol of sulfur and mercaptans, and 0.05 to 1.0 g of cobalt disulfophthalocyanine or dichlorodihydroxydisulfophthalocyanine per 1 t of raw material. Oxidation is conducted at 10 to 65 C for 15 to 180 min at pressure 0.2 to 1.5 MPa. To speed up demercaptanization reaction, 0.05 to 0.2 wt % of additional sulfur is added. EFFECT: extended application area of method and reduced consumption of reagents. 3 cl, 1 tbl
