Abstract: Formulation for a natural product as a replacement for the use of traditional acidic chemical stimulation methods for the emulsification, removal and release of paraffin and asphaltenes from low producing or pumped off wells and reservoirs with the use of traditional methodologies. Also a method of use of formulation for stimulating an oil well consisting of introducing into the wellbore a biodegradable, non-reactive fluid system containing a water-miscible fatty acid solvent, a solution of fatty acids, an amino alcohol, and at least one non-ionic surfactant. The fluid system may be further in the form of a nanoemulsion that is formed by combining a colloidal solution with one or more emulsifiers, an alcohol, and water. The fluid system may be used in well remediation and stimulation as well as additional, alternative applications such as the cleaning of surface and/or downhole equipment.