To alleviate the conflict between oil supply and demand, Chinese government has accelerated exploration and exploitation of alternative oil productions. STL (Shale-to-liquid) processes and CTL (coal-to-liquid) processes are promising choices to supply oil. However, few analyses have been made on their energy efficiency and economic performance. This paper conducts a detailed analysis of a STL process and a CTL process based on mathematical modeling and simulation. Analysis shows that low efficiency of the STL process is due to low oil yield of the Fushun-type retorting technology. For the CTL process, the utility system provides near to 34% energy consumption of the total. This is because that CTL technologies are in early development and no heat integration between units is implemented. Economic analysis reveals that the total capital investment of the CTL process is higher than that of the STL process. The production cost of the CTL process is right on the same level as that of the STL process. For better techno-economic performance, it is suggested to develop a new retorting technology of high oil yield for the STL process. The remaining retorting gas should be converted to hydrogen and then used for shale oil hydrogenation. For the CTL process, developing an appropriate heat network is an efficient way to apply heat integration. In addition, the CTL process is intended to be integrated with hydrogen rich gas to adjust H-2/CO for better resource utilization. (C) 2016 Elsevier Ltd. All rights reserved.