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The sulfur content of liquid cracking products, especially the cracked gasoline, of the catalytic cracking process is reduced by the use of a sulfur reduction catalyst composition comprising a porous molecular sieve which contains a metal in an oxidation state above zero within the interior of the p

The sulfur content of liquid cracking products, especially the cracked gasoline, of the catalytic cracking process is reduced by the use of a sulfur reduction catalyst composition comprising a porous molecular sieve which contains a metal in an oxidation state above zero within the interior of the pore structure of the sieve as well as a cerium component which enhances the stability and sulfur reduction activity of the catalyst. The molecular sieve is normally a faujasite such as USY. The primary sulfur reduction component is normally a metal of Period 3 of the Periodic Table, preferably vanadium. The sulfur reduction catalyst may be used in the form of a separate particle additive or as a component of an integrated cracking/sulfur reduction catalyst.

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We claim: 1. A method of reducing the sulfur content of a catalytically cracked petroleum fraction which comprises catalytically cracking a distillate petroleum feed fraction containing substituted-benzothiophenes and dibenzothiophene organosulfur compounds under fluid catalytic cracking conditions

We claim: 1. A method of reducing the sulfur content of a catalytically cracked petroleum fraction which comprises catalytically cracking a distillate petroleum feed fraction containing substituted-benzothiophenes and dibenzothiophene organosulfur compounds under fluid catalytic cracking conditions at elevated temperature in the presence of a catalytic cracking catalyst and a product sulfur reduction catalyst, wherein the product sulfur reduction catalyst comprises a porous molecular sieve which contains (i) a first metal component comprising vanadium in an oxidation state greater than zero within the interior pore structure of the molecular sieve and (ii) a second metal component comprising cerium within the interior pore structure of the molecular sieve, to produce a liquid cracked distillate product fraction having a reduced content of substituted-benzothiophenes and dibenzothiophene organosulfur compounds. 2. A method according to claim 1 in which the product sulfur reduction catalyst comprises a large pore size or intermediate pore size zeolite as the molecular sieve component. 3. A method according to claim 2 in which the large pore size zeolite comprises a faujasite zeolite. 4. A method according to claim 3 in which the large pore size zeolite comprises zeolite USY. 5. A method according to claim 1 in which the second metal component is present in an amount from 0.5 to 10 weight percent of the catalytic composition. 6. A method according to claim 1 in which the product sulfur reduction catalyst comprises a USY zeolite having a UCS of from 2.420 to 2.455 nm, a bulk silica:alumina ratio of at least 5.0 as the molecular sieve component. 7. A method according to claim 1 in which the sulfur reduction catalyst is a separate particle additive catalyst. 8. A method according to claim 1 in which the liquid cracked distillate petroleum product fraction comprises a fraction selected from the group consisting of light cycle oil, light fuel fraction, heavy fuel fraction and mixtures thereof. 9. A method according to claim 1 in which the liquid cracked distillate petroleum product fraction comprises a fraction boiling above the gasoline fraction. 10. In a fluid catalytic cracking process in which a heavy hydrocarbon feed comprising a distillate petroleum hydrocarbon fraction containing substituted-benzothiophenes and dibenzothiophene organosulfur compounds is catalytically cracked by contact in a cyclic catalyst recirculation cracking process with a circulating fluidizable catalytic cracking catalyst inventory consisting of particles having a size ranging from about 20 to about 100 microns, comprising: (i) catalytically cracking the feed in a catalytic cracking zone operating at catalytic cracking conditions by contacting feed with a source of regenerated cracking catalyst to produce a cracking zone effluent comprising cracked products and spent catalyst containing coke and strippable hydrocarbons; (ii) discharging and separating the effluent mixture into a cracked product rich vapor phase and a solids rich phase comprising spent catalyst; (iii) removing the vapor phase as a product and fractionating the vapor to form liquid cracked products including gasoline and cycle oil; (iv) stripping the solids rich spent catalyst phase to remove occluded hydrocarbons from the catalyst; (v) transporting stripped catalyst from the stripper to a catalyst regenerator; (vi) regenerating stripped catalyst by contact with oxygen containing gas to produce regenerated catalyst; and (vii) recycling the regenerated catalyst to the cracking zone to contact further quantities of heavy hydrocarbon feed; the improvement which comprises reducing the content of substituted-benzothiophenes and dibenzothiophene organosulfur compounds in the liquid cracked distillate petroleum products, by catalytically cracking the hydrocarbon feed fraction at elevated temperature in the presence of a product sulfur reduction catalyst which comprises a porous molecular sieve having (i) a first metal component comprising vanadium in an oxidation state greater than zero within the interior pore structure of the molecular sieve and (ii) a second metal component within the interior pore structure of the molecular sieve and which comprises cerium. 11. A method according to claim 10 in which the cracking catalyst comprises a matrixed faujasite zeolite. 12. A method according to claim 11 in which the product sulfur reduction catalyst comprises a large pore size or intermediate pore size zeolite as the molecular sieve component, vanadium as the first metal component and cerium as the second metal component. 13. A method according to claim 12 in which the large pore size zeolite of the product sulfur reduction catalyst comprises zeolite USY. 14. A method according to claim 10 in which the liquid cracked distillate petroleum product is selected from the group consisting of light cycle oil, light fuel oil, heavy fuel oil and mixtures thereof. 15. A method according to claim 10 in which the liquid cracked distillate petroleum products comprise a fraction boiling above the gasoline fraction.