A system for processing a stream including fuel oil includes an atmospheric flash column for receiving the stream as feedstock and separate the stream into an atmospheric flash distillate stream and an atmospheric flash residue stream. The system includes a vacuum flash column for receiving the atmospheric flash residue stream and separating the atmospheric flash residue stream into a vacuum flash distillate stream, a vacuum flash residue stream, and a vacuum gas oil stream. The system includes a first hydrocracking unit for receiving and processing at least a portion of the vacuum flash residue stream to produce an intermediate stream and a slurry. The system includes a second hydrocracking unit for receiving and processing the vacuum gas oil stream and the intermediate stream to produce a naphtha product and a light ends product. The system includes a pelletization unit for receiving and processing the slurry to produce a pelletized product.