In the present work, a new polygeneration system is developed that uses petcoke and natural gas as feedstocks and coproduces different products such as chemicals, olefins, electricity and transportation fuels. Furthermore, by incorporation of chemical looping combustion and chemical looping gasification technologies, 100% of CO2 emissions are captured effectively. The particle swarm optimization technique is implemented with Aspen Plus models to determine the optimum product portfolio at different market conditions. Techno-economic optimization results show that this plant can be profitable for a broad range of petcoke consumption (up to 74%) and various feeds and products price changes. (C) 2015 Elsevier Ltd. All rights reserved.