A Conversion is the process of converting something from one thing to another.
Reference Definition by Petroleum.co.uk: A Conversion 1) a process of changing from one form, state, etc., to another; 2) the simply the process of changing on kind of hydrocarbon into another. Example of the conversion processes: Cracking is the process of taking heavier, less valuable fractions of crude and converting them into lighter products. Cracking uses heat and pressure to break heavier elements into lighter ones. Alkylation is another common process, which is basically the opposite of cracking. In alkylation, small gaseous by-products are combined to form larger hydrocarbons.