http://www.tomvalentine.com/html/karrick2.html
The process was perfected by Lewis C. Karrick, an oil shale technologist at the U.S. Bureau of Mines in the 1920s. LTC is a pyrolysis process that involves heating coal, shale, lignite, or any other carbonaceous material, including garbage) to about 800o F. in the absence of oxygen. Oil is thus distilled from the material, rather than burning as it would if oxygen were present. After treatment by the Karrick process, a ton of coal will yield up to a barrel of oil, 3000 cu. ft. of rich fuel gas, and 1500 lb. of solid smokeless char (semi-coke). The economics of the process are such that the oil is obtained for free!
The smokeless char is an excellent substitute for coal in utility boilers, and for coking coal in steel smelters. It yields more heat than raw coal, and it can be converted to water gas. That gas can be converted to oil by the Fischer-Tropsch synthesis-process. The coal gas produced by Karrick-LTC yields more BTUs than natural gas because it contains a greater amount of combined carbon, and there is less dilution of the combustion gases with water vapor. The phenolic wastes are used by the chemical industry as feedstock for working up into plastics, etc.. The process produces no pollutants other than carbon dioxide.
See links above for rest of the story! And it's in the United States!
Your chemistry is largely correct, and current producers actually get closer to two barrels than one barrel from a ton of coal. Most of the gas produced goes into the processing.
Sadly the economics for it have not been favorable. The USA has gone from coking over 100 million tons of coal per year in 1950 to less than 25 million tons per year in 2004.