Investigations at low and high pressure deliver information about the ways of CO hydrogenation and reasons for product distribution on Co+Pd catalysts. Properties of (Co+Pd)/TiO2(Al2O3) systems prepared in H2 were studied. Data obtained at 1 atm showed CoPdT samples as more active but CoPdA had higher CH4 selectivity. Metal dispersion was 1-3%. Bimodal particle distribution discerns CoPdA showing trend to agglomeration and alloying. CO adsorption proceeded on highly varied sites. CoPdA demonstrated high temperature H2 desorption, increased H/CO ratio on the surface, CO species firmly detained on the surface; stable carbonates. CoPdT appeared SMSI even after contact with H2O and air. Reaction was accompanied by surface reconstruction and increased formation of CH2 group increasing Treac. Both systems had potential to produce higher hydrocarbons even at 1 atm. Catalyst performance at 10.2 atm revealed dependence on Tred. CO conversion decreased with time and in comparison with selectivity at 1 atm synthesis of C2+ hydrocarbons increased but CO2 amount decreased. CH4/CO2 ratio was higher for CoPdA. CO conversion decrease was due to difficult reagents/intermediates/products diffusion and particles agglomeration. Higher Tred favoured decrease in CO2 production by WGSR, particles agglomeration and alloy formation.