NOVELTY - Hydrocarbon reactant is converted to a product of carbon monoxide and hydrogen by flowing a reactant composition containing the hydrocarbon reactant and oxygen or its source through a microchannel reactor in contact with a catalyst under reaction conditions to form the product. The microchannel reactor comprises process microchannel(s) with the catalyst positioned within the process microchannel.    USE - For converting hydrocarbon reactant to product comprising CO and H2 (claimed).    ADVANTAGE - The inventive process provides increased catalyst durability and reduced formation of undesired by-products. It provides high levels of conversion of the hydrocarbon reactant and high levels of selectivity to the desired product.    DETAILED DESCRIPTION - Conversion of hydrocarbon reactant to product of carbon monoxide (CO) and hydrogen (H2) involves flowing a reactant composition containing the hydrocarbon reactant and oxygen or a source of oxygen through a microchannel reactor in contact with a catalyst under reaction conditions to form the product. The microchannel reactor comprises process microchannel(s) with the catalyst positioned within the process microchannel. The hydrocarbon reactant comprises methane. The contact time for the reactant composition within the process microchannel is up to 500 milliseconds. The temperature of the reactant composition and product within the process microchannel is up to 1150degreesC. The conversion of the hydrocarbon reactant is at least 50%. INDEPENDENT CLAIMS are also included for:    (1) a catalyst comprising a composition of formula M1aM2bM3cAldOx; and    (2) process for making a supported catalyst.    M1 = Rh, Ni, Pd, Pt, Ru, and/or Co;    M2 = Ce, Pr, and/or Tb;    M3 = La, Ba, Zr, Mg, and/or Ca;    a = 0.0001-1;    b = 0-0.9999;    c = 0.0001-0.9999;    d = 0.0001-0.9999;    x = number of oxygen needed to fulfill the valency requirements of the elements present.    The catalyst is coated on a substrate or supported on a foam, felt, wad or fin. The process of making the support catalyst involves:    (a) applying a layer of Al2O3 on part(s) of a support structure;    (b) calcining the treated support structure formed in step (1);    (c) applying a promoter or stabilizer to the surface of the calcined support structure formed in step (2) to form a treated support structure, in which the promoter or stabilizer comprises lanthanum, barium, zirconium, calcium, and/or their oxide or nitrate;    (d) calcining the treated support structure formed in step (3);    (e) applying a catalytic metal or its oxide or nitrate to the surface of the calcined support structure formed in step (4) to form a treated support structure, in which the catalytic metal comprises rhodium, nickel, palladium, platinum, ruthenium, and/or cobalt; and    (f) calcining the treated support structure formed in step (5) to form the supported catalyst.