Non-catalytic upgrading of de-oiled asphaltenes in supercritical methanol. Below 1 wt% of asphaltenes was achieved with scMeOH in the upgraded oil. Addition of formic acid to scMeOH resulting increase in oil yield to 83.9 wt%. Significant demetalization of Fe, Ni and V was achieved in scMeOH upgradation. 18 wt% Naptha-to-diesel fraction were produced.