Abstract: Molasses is a by-product in the manufacture of canesugar. Attempts to use molasses as a fuel, for example in boilers, have been unsuccessful. The present invention provides a mixture of molasses and fuel oil, particularly a homogenized mixture which can be used as a viable alternative to fuel to displace fuel oil in industrial combustion equipment, and also provides a method of improving the burning qualities of molasses. The molasses-fuel oil mixture is more efficient as a fuel than just molasses alone and will be of especial use in areas where molasses is costly to transport and is easily available, and costs associated with fuel oils are high.