Heavy residual fuel oils is a mixture of reduced crude from crude unit, bottom products from vacuum and/or catalytic cracking unit with distillate to meet the specification and generally used as heavy fuel oil for large combustion engines, boilers, etc$cdots$. But this study was made to investigate heavy residual fuel oils for using as industrial raw material and resulted the following possiblities as valuable raw material as well as heavy fuel oil. 1) Production of straight asphalt through vacuum distillation unit. 2) Using straight asphalt from vacuum distillation unit for manufacturing of blown asphalts, cut back asphalts, emulsified asphalts and asphalt compound, rubber/asphalt sheet, etc$cdots$. 3) Using waxy oil side streams for manufacturing of raw oil to be lube oil base stocks through solvent dewaxing. 4) Production of lube base oils and rubber process oils from dewaxed raw oil through chemical treatments. 5) Manufacturing of paraffine wax from slack wax to be produced as by product of dewaxing process.