FIELD: crude oil treatment. SUBSTANCE: of crude oil and gas condensate are freed from hydrogen sulfide and low-molecular mercaptans by oxidizing them with air oxygen at 20 to 70 C and pressure 0.3 to 3.5 MPa in presence of alkali metal hydroxide aqueous solution in amounts corresponding to 0.1-0.8 mole hydroxide per 1 mole total sulfur and water-soluble variable-valence metal salt or its complex with pyrophosphate or ammonia as catalyst. Salt or complex are used in the form of aqueous or wateralkali solution in amounts corresponding to 0.01-0.08 g metal ion per 1 mole total sulfur. Variable-valence metal salt is preferably cupric, nickel, or cobalt sulfate, chloride, or nitrate, or their mixture, and metal complex is preferably cupric, nickel, or cobalt complex with alkali metal pyrophosphate or ammonia. When crude material has high content of hydrogen sulfide and mercaptans, water-soluble organic amine, preferably in amounts 0.02 to 0.15 wt % is added. In this case, part of reaction mixture or spent aqueous solution of catalyst is returned to be mixed with initial crude material at ratio (0.02- 2):1 and/or oxidation process is carried out in two steps with intermediate separation of exhausted air from mixture by way of reducing pressure to 0.13- 0.3 MPa, after which mixture is subjected to aftertreatment with new portion of compressed air at 0.3-3.5 MPa. EFFECT: extended assortment of accessible and inexpensive catalysts, simplified technology, and prevented pollution of treated material with elementary sulfur formed. 7 cl, 9 ex
