A process for the conversion of synthesis gas, the process comprising contacting in a tubular reactor a gaseous stream comprising synthesis gas with a carbon monoxide hydrogenation catalyst to produce a synthetic product; wherein the tubular reactor comprises a reactor inlet in fluid communication with one or more reactor tubes wherein each reactor tube comprises a tube inlet, a tube outlet located downstream of the tube inlet, an inner tube wall comprising a surface area, an outer tube wall, a heat transfer structure within the reactor tube, and a volume of the carbon monoxide hydrogenation catalyst within the reactor tube; a reactor outlet located downstream of the reactor inlet in fluid communication with the one or more reactor tubes; and a cooling medium in contact with the one or more reactor tubes; wherein the diameter of the inner tube wall is from 20 mm to 80 mm; the carbon monoxide hydrogenation catalyst exhibits a conversion rate of at least 30 millimoles CO per mL of catalyst per hour when tested by reacting a stream comprising 30 vol. % inert gas and a ratio of H 2 /CO of 1.84 at a temperature of 205 °C and a pressure of 2.40 MPa (348 psig) with a catalyst gas hourly space velocity of 20,000 hr -1 using a particulate form of the carbon monoxide hydrogenation catalyst with a weight average diameter of less than 65 μm; the heat transfer structure comprises a network of heat conducting surfaces in conductive thermal contact with a portion of the carbon monoxide hydrogenation catalyst and wherein the heat transfer structure is in at least partial conductive thermal contact throughout the surface area of the inner tube wall containing the carbon monoxide hydrogenation catalyst; and at least one of a ratio of effective thermal conductivity of the heat transfer structure and the carbon monoxide hydrogenation catalyst with the inner tube wall over thermal conductivity of the carbon monoxide hydrogenation catalyst of at least about 50:1; and a total combined surface area of the heat transfer structure and inner tube wall containing the carbon monoxide hydrogenation catalyst per volume of the carbon monoxide hydrogenation catalyst (the "SA/V") from about 500 m 2 /m 3 to about 4000 m 2 /m 3. a reactor inlet in fluid communication with one or more reactor tubes wherein each reactor tube comprises a tube inlet, a tube outlet located downstream of the tube inlet, an inner tube wall comprising a surface area, an outer tube wall, a heat transfer structure within the reactor tube, and a volume of the carbon monoxide hydrogenation catalyst within the reactor tube; a reactor outlet located downstream of the reactor inlet in fluid communication with the one or more reactor tubes; and a cooling medium in contact with the one or more reactor tubes; the diameter of the inner tube wall is from 20 mm to 80 mm; the carbon monoxide hydrogenation catalyst exhibits a conversion rate of at least 30 millimoles CO per mL of catalyst per hour when tested by reacting a stream comprising 30 vol. % inert gas and a ratio of H 2 /CO of 1.84 at a temperature of 205 °C and a pressure of 2.40 MPa (348 psig) with a catalyst gas hourly space velocity of 20,000 hr -1 using a particulate form of the carbon monoxide hydrogenation catalyst with a weight average diameter of less than 65 μm; the heat transfer structure comprises a network of heat conducting surfaces in conductive thermal contact with a portion of the carbon monoxide hydrogenation catalyst and wherein the heat transfer structure is in at least partial conductive thermal contact throughout the surface area of the inner tube wall containing the carbon monoxide hydrogenation catalyst; and at least one of a ratio of effective thermal conductivity of the heat transfer structure and the carbon monoxide hydrogenation catalyst with the inner tube wall over thermal conductivity of the carbon monoxide hydrogenation catalyst of at least about 50:1; and a total combined surface area of the heat transfer structure and inner tube wall containing the carbon monoxide hydrogenation catalyst per volume of the carbon monoxide hydrogenation catalyst (the "SA/V") from about 500 m 2 /m 3 to about 4000 m 2 /m 3. a ratio of effective thermal conductivity of the heat transfer structure and the carbon monoxide hydrogenation catalyst with the inner tube wall over thermal conductivity of the carbon monoxide hydrogenation catalyst of at least about 50:1; and a total combined surface area of the heat transfer structure and inner tube wall containing the carbon monoxide hydrogenation catalyst per volume of the carbon monoxide hydrogenation catalyst (the "SA/V") from about 500 m 2 /m 3 to about 4000 m 2 /m 3.