Generalized nets (GNs) are a suitable tool for the modeling of parallel processes. Through them, it is possible to describe the functioning and results of the performance of complex real processes running in time. In a series of articles, we consistently describe the main processes involved in the production of petroleum products taking place in an oil refinery. The GN models can be used to track the actual processes in the oil refinery in order to monitor them, make decisions in case of changes in the environment, optimize some of the process components, and plan future actions. This study models the heavy oil production process in a refinery using the toolkit of GNs. Five processing units producing ten heavy-oil-refined products in an amount of 106.5 t/h from 443 t/h atmospheric residue feed, their blending, pipelines, and a tank farm devoted to storage of finished products consisting of three grades of fuel oil (very low sulfur fuel oil (0.5%S) —3.4 t/h; low sulfur fuel oil (1.0%S) —4.2 t/h; and high sulfur fuel oil (2.5%S) —66.9 t/h), and two grades of road pavement bitumen (bitumen 50/70 —30 t/h and bitumen 70/100 —2 t/h) are modeled in a GN medium. This study completes the process of modeling petroleum product production in an oil refinery using GNs. In this way, it becomes possible to construct a highly hierarchical model that incorporates the models already created for the production of individual petroleum products into a single entity, which allows for a comprehensive analysis of the refinery’s operations and decision making concerning the influence of various factors such as disruptions in the feedstock supply, the occurrence of unplanned shutdowns, optimization of the production process, etc.