Questions

The first step in the refining of petroleum is distillation i.e,  the fractionation of crude oil in atmospheric and vacuum distillation towers.

The first process petroleum refinery is known as distillation. In this process, crude oil is heated and fed into a distillation column. As the temperature of the crude oil in the distillation column rises, the crude oil separates itself into different components, called "fractions." The fractions are then captured separately. Each fraction corresponds to a different type of petroleum product, depending on the temperature at which that fraction boils off the crude oil mixture.

The output will be "Not equal! 10". Please note that && is logical AND operator. If first operand before (&&) is false then the other operand will not be evaluated. This illustrates that the Output +=10 calculation was never performed because processing stopped after the first operand was evaluated to be false. If you change the value of b1 to true, processing occurs as you would expect and the output would be "We are equal 20".

The logic in the given puzzle is 

Addition of numeric values of corresponding letters in the first three figures gives respective corresponding letter in fourth figure. 

i.e, A = 1 , W = 23 , B = 2 => 2 + 1 + 23 =26 = 'Z'

Similarly, L = 12, K = 11 , A = 1 => 1 + 11 + 12 = 24 = 'X'

Here the missing letter is 'X'.