<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex99-a.txt
<DESCRIPTION>NFG PRESS RELEASE 1/26/01
<TEXT>




<HTML>
<HEAD>
<TITLE> ex99(a) </TITLE>
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<BODY>

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>NATIONAL
FUEL REPORTS FIRST QUARTER RESULTS</FONT></H1>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Buffalo, New York: National
Fuel Gas Company (&#147;National Fuel&#148; or the &#147;Company&#148;)
(NYSE:NFG) today reported earnings for the first quarter ended December 31, 2000
of $53.0 million, or $1.35 per share ($1.32 per share on a diluted basis). This
compares with earnings of $44.9 million, or $1.15 per share ($1.14 per share on
a diluted basis), for the quarter ended December 31, 1999. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The  increase in earnings of $8.1 million for the quarter as compared  with the prior  year's  quarter was
the result of higher  earnings in the  Exploration  and Production,  Timber and Energy  Marketing  segments.  These
higher  earnings  were offset in part by lower  earnings in the Utility,  Pipeline and Storage,  and  International
segments.</FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Utility  segment's  first quarter fiscal 2001 earnings were $18.3  million,  or $3.5 million less when
compared with the first quarter of fiscal 2000. A primary  factor in this  quarter's  lower  earnings was the $10.0
million  decrease  in rates  for the  Utility's  New York  customers  that  went  into  effect  October  1, 2000 in
connection  with  the  three  year  rate  settlement  agreement  reached  with the New York  State  Public  Service
Commission.  This rate  decrease is provided in the form of a bill credit  included in rates  during the November 1
through March 31 heating  season.  This  settlement  follows a period of rate  reductions  implemented  in 1998 and
1999,  saving  customers  approximately  1.1% on their  annual  bill each year.  Colder  weather  in the  Utility's
Pennsylvania  service  territory  and the  continuing  efforts to control  Operating and  Maintenance  expenses and
improve  efficiencies  offset  to a  certain  extent  the full  impact of the rate  reduction.  Earnings  were also
impacted by stock  appreciation  rights  ("SARs")  expense (see  discussion  below) and by the expense  incurred in
connection with an early  retirement  offer accepted by certain  employees in  Pennsylvania.  The early  retirement
benefit expense will be offset in the future by lower labor costs*.</FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bernard J. Kennedy,  Chairman and Chief  Executive  Officer,  stated:  "Nationwide,  the last three months
have  presented  utility  customers and their utility  companies with  considerable  challenges.  Locally,  we have
endured  both  weather  that  has been  significantly  colder  than in  recent  years,  and the  consequences  of a
marketplace  that,  for several  months,  has  sustained  unprecedented  prices for natural gas.  Fortunately,  the
increased energy needs of our customers have been met  consistently  and reliably as we have delivered  natural gas
to heat their homes and businesses during this difficult time."</FONT></P>

<P ALIGN=CENTER> <FONT FACE="Times New Roman, Times, Serif" SIZE=2>                - more -</FONT></P>


<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 2</FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the  Exploration  and Production  segment,  earnings for the quarter ended December 31, 2000 were $23.0
million,  up $15.0  million  from the prior  year's  first  quarter.  An 82%  increase in oil  production,  largely
attributable  to  production  from the  Company's  Canadian  properties  acquired  last June,  combined with higher
commodity  prices were the main reasons for higher  earnings.  In addition,  a $3.8  million  (after tax)  positive
valuation  in the first  quarter of no cost  collars  used for  hedging  oil and gas prices  contributed  to higher
earnings.</FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Timber  segment's  first  quarter  earnings of $2.4 million  were $1.5 million  greater than the prior
year's  first  quarter.  This  increase  was  primarily  the  result  of the gains  realized  on the sale of timber
properties.  Increased sales of timber at prices higher than last year also contributed to greater profitability.</FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Energy  Marketing  segment had first  quarter  fiscal  2001  earnings of $1.3  million  compared  with
break-even  results  during the first quarter last year.  This primarily  reflects  higher sales margins during the
quarter.  There  was  also a  mark-to-market  gain on  certain  derivative  financial  instruments.  An  offsetting
position has been taken to eliminate  further  mark-to-market  adjustments.  This  segment's  remaining  derivative
financial instruments qualify for hedge accounting treatment*.</FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the Pipeline and Storage  segment,  earnings of $6.6 million for the quarter ended  December 31, 2000
were down $2.7 million  compared to the first  quarter of fiscal 2000.  Reasons for the decrease  included the SARs
expense,  early retirement  benefits and lower efficiency gas revenues compared to a year ago. These negatives were
offset in part by other income realized upon the buy-out by a customer of a long-term  transportation  contract and
by this segment's continuing efforts to control Operating and Maintenance expenses.</FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The  International  segment's  earnings  for the first  quarter of fiscal 2001 of $2.2  million  were $2.4
million  lower than the earnings in the prior year's  quarter.  The decrease can be attributed to a decline in heat
sales  because of warm  weather in the Czech  Republic and from a  non-recurring  income tax  adjustment  made last
year.  Decreases in Operating and Maintenance expenses were a partial offset.</FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The increase in the market price of National  Fuel's stock from $56.06 at September  30, 2000 to $62.94 at
December 31, 2000, while benefiting the Company's  shareholders,  carried with it the necessary recognition of $7.5
million  (after tax) of expense for SARs.  This expense was spread across all segments with the greatest  impact on
Pipeline and Storage.</FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.  Kennedy  added:  "We are pleased that our  continued  diversification  efforts have led to a positive
earnings  performance  for  this  quarter.  Our  investments  in  California  and  Canada  in our  Exploration  and
Production  segment provided the impetus behind this quarter's  earnings  increase.  The Exploration and Production
segment now  represents the Company's  largest net plant  investment.  The current  crisis in  California,  indeed,
makes us realize  that the need for energy is a  national  issue.  National  Fuel will  endeavor  to be part of the
solution to this country's  long-term  energy needs through the development of additional  supplies of oil and gas,
and the construction of new gas pipelines*."</FONT></P>


<P ALIGN=CENTER> <FONT FACE="Times New Roman, Times, Serif" SIZE=2> - more -</FONT></P>

<P> <FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 3</FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company reaffirms its prior earnings estimates for Fiscal 2001 in the $4.25 to $4.35 per share
range.*  While oil and gas prices remain at favorable levels, production delays, primarily in the Gulf Coast
region, have occurred.  The postponement until the 2nd and 3rd fiscal quarters of new well completions, and
recompletions from non-operated wells, requires estimated production volumes for the year to be lowered from the
previous range of 95-100 Bcfe to 90-95 Bcfe.*</FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The  Company  will host a  conference  call on Monday  January  29,  2001 at 9:00 a.m.  (Eastern  Time) to
discuss this  announcement.  There are two ways to access this call;  first you may go to the  Company's  home page
at its Internet Web site  <u>HTTP://WWW.NATIONALFUELGAS.COM</u>  and click on the words "Conference Call"; and second, for
those without  Internet  access, a toll free number may be used.  Please call  1-888-455-5419  and use the passcode
"National  Fuel" to listen to the live call.  For those  unable to listen to the live  broadcast,  a replay will be
available  at the  above-mentioned  Internet Web site  beginning  about one hour after the call.  In addition,  the
call will be recorded and a toll-free  replay will be available  for playback by telephone  approximately  one hour
after the call is completed at 1-800-944-2125.</FONT></P>



<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Fuel is an integrated  energy company with $3.5 billion in assets  comprised of the following six
operating segments:  Utility, Pipeline and Storage,  Exploration and Production,  International,  Energy Marketing,
and  Timber.   Additional   information   about   National   Fuel  is   available   on  its   Internet   Web  site:
<u>HTTP://WWW.NATIONALFUELGAS.COM</u> or through its investor information service at 1-800-334-2188.</FONT></P>

<P>__________

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>o</FONT></TD>
<TD WIDTH=95%><FONT SIZE=2>
This statement is a &#147;forward-looking statement&#148; as defined by the
Private Securities Litigation Reform Act of 1995. While National Fuel&#146;s
expectations, beliefs and projections are expressed in good faith and are
believed to have a reasonable basis, actual results may differ materially from
those in the forward-looking statement. Furthermore, such statement speaks only
as of the date on which it is made, and National Fuel undertakes no obligation
to update the statement to reflect events or circumstances after the date on
which it is made or to reflect the occurrence of unanticipated events. In
addition to other factors, the following are important factors that could cause
actual results to differ materially from those expressed in the forward-looking
statements: changes in economic conditions, demographic patterns and weather
conditions; changes in the availability or price of natural gas and oil;
inability to obtain new customers or retain existing ones; significant changes
in competitive conditions affecting the Company; governmental/regulatory actions
and initiatives, including those affecting acquisitions, financings, allowed
rates of return, industry and rate structure, franchise renewal, and
environmental/safety requirements; unanticipated impacts of restructuring
initiatives in the natural gas and electric industries; significant changes from
expectations in actual capital expenditures and operating expenses and
unanticipated project delays or change in project costs; the nature and
projected profitability of pending and potential projects and other investments;
occurrences affecting the Company&#146;s ability to obtain funds from
operations, debt or equity to finance needed capital expenditures and other
investments; uncertainty of oil and gas reserve estimates; ability to
successfully identify and finance oil and gas property acquisitions and ability
to operate and integrate existing and any subsequently acquired business
properties; availability to successfully identify, drill for and produce
economically viable natural gas and oil reserves; changes in the availability or
price of derivative financial instruments; changes in the price of natural gas
or oil and the related effect given the accounting treatment or valuation of
derivative financial instruments; inability of the various counterparties to
meet their obligations with respect to the Company&#146;s financial instruments;
regarding foreign operations - changes in foreign trade and monetary policies,
laws, and regulations related to foreign operations, political and governmental
changes, inflation and exchange rates, taxes and operating conditions;
significant changes in tax rates or policies or in rates of inflation or
interest; significant changes in the Company&#146;s relationship with its
employees and the potential adverse effects if labor disputes or grievances were
to occur; or changes in accounting principles or the application of such
principles to the Company.</FONT></TD>
</TR>
</TABLE>
<BR>

<P ALIGN=CENTER>  <FONT FACE="Times New Roman, Times, Serif" SIZE=2>  -30- </FONT> </P>

<PRE>

Page 4

                            NATIONAL FUEL GAS COMPANY
                                AND SUBSIDIARIES

(Thousands of Dollars, except per share amounts)
                                                    Three Months Ended
                                                    December 31,
                                                    ------------------
                                                       (Unaudited)
SUMMARY OF OPERATIONS                                2000         1999
---------------------                                ----         ----
Operating Revenues                                 $559,504     $377,031
                                                   --------     --------

Operating Expenses:
  Purchased Gas                                     273,080      128,089
  Fuel Used in Heat and Electric Generation          16,064       17,780
  Operation and Maintenance                         101,291       82,679
  Property, Franchise and Other Taxes                21,453       22,792
  Depreciation, Depletion and Amortization           39,136       33,716
  Income Taxes - Current                             20,900        7,746
                         - Deferred                  12,459       13,992
                                                   --------     --------
                                                    484,383      306,794
                                                   --------     --------
Operating Income                                     75,121       70,237
Other Income                                          8,165        1,172
                                                   --------     --------

Income Before Interest Charges and Minority
  Interest in Foreign Subsidiaries                   83,286       71,409

Interest Charges                                     29,387       25,230
Minority Interest in Foreign Subsidiaries              (915)      (1,311)
                                                   --------     --------

Net Income Available for Common Stock              $ 52,984     $ 44,868
                                                   ========     ========

Earnings Per Common Share:
   Basic                                              $1.35        $1.15
                                                      =====        =====
   Diluted                                            $1.32        $1.14
                                                      =====        =====

Weighted Average Common Shares:
  Used in Basic Calculation                      39,380,113   38,923,141
                                                 ==========   ==========
  Used in Diluted Calculation                    40,173,174   39,413,008
                                                 ==========   ==========


Page 5

                           NATIONAL FUEL GAS COMPANY
                                AND SUBSIDIARIES



SEGMENT INFORMATION
(Thousands of Dollars)
                                       Three Months Ended
                                          December 31,
                                          (Unaudited)
                                       ------------------

                                                         Increase
                                2000           1999     (Decrease)
                                ----           ----      --------
Operating Revenues
Utility                       $354,168      $233,216     $120,952
Pipeline and Storage            42,665        43,165         (500)
Exploration and Production     101,254        50,018       51,236
International                   31,224        38,073       (6,849)
Energy Marketing                48,186        29,175       19,011
Timber                          10,937         8,740        2,197
                              --------      --------     --------
  Total Reportable Segment     588,434       402,387      186,047
All Other                        1,299         1,268           31
Intersegment Eliminations      (30,229)      (26,624)      (3,605)
                              --------      --------     --------
   Total Consolidated         $559,504      $377,031     $182,473
                              ========      ========     ========

Operating Income (Loss)
 Before Income Taxes
Utility                       $ 38,627       $42,510      $(3,883)
Pipeline and Storage            10,298        18,219       (7,921)
Exploration and Production      50,187        20,514       29,673
International                    6,640         8,973       (2,333)
Energy Marketing                 2,415           (55)       2,470
Timber                           2,899         2,510          389
                              --------       -------      -------
  Total Reportable Segment     111,066        92,671       18,395
All Other                       (1,024)         (126)        (898)
Corporate                       (1,562)         (570)        (992)
                              --------       -------      -------
   Total Consolidated         $108,480       $91,975      $16,505
                              ========       =======      =======

Net Income
Utility                        $18,287       $21,753      $(3,466)
Pipeline and Storage             6,595         9,282       (2,687)
Exploration and Production      23,001         8,005       14,996
International                    2,240         4,683       (2,443)
Energy Marketing                 1,344           (17)       1,361
Timber                           2,396           931        1,465
                               -------       -------       ------
  Total Reportable Segment      53,863        44,637        9,226
All Other                         (732)         (146)        (586)
Corporate                         (147)          377         (524)
                               -------       -------      -------
   Total Consolidated          $52,984       $44,868      $ 8,116
                               =======       =======      =======


Page 6

                           NATIONAL FUEL GAS COMPANY
                                AND SUBSIDIARIES



SEGMENT INFORMATION (Continued)
(Thousands of Dollars)
                                      Three Months Ended
                                         December 31,
                                         (Unaudited)

                                                         Increase
                                 2000        1999       (Decrease)
                                 ----        ----        --------

Depreciation, Depletion
 and Amortization:
Utility                        $ 9,225      $ 9,015       $  210
Pipeline and Storage             5,887        5,953          (66)
Exploration and Production      20,447       15,509        4,938
International                    2,703        2,889         (186)
Energy Marketing                    60           53            7
Timber                             781          273          508
                               -------      -------       ------
  Total Reportable Segment      39,103       33,692        5,411
All Other                           32           23            9
Corporate                            1            1            0
                               -------      -------       ------
   Total Consolidated          $39,136      $33,716       $5,420
                               =======      =======       ======

Expenditures for
 Long-Lived Assets
Utility                        $10,116      $16,327      $(6,211)
Pipeline and Storage             6,442        7,199         (757)
Exploration and Production      42,746       28,938       13,808
International                    9,447        3,020        6,427
Energy Marketing                     0            0            0
Timber                             589        3,438       (2,849)
                               -------      -------      -------
  Total Reportable Segment      69,340       58,922       10,418
All Other                            9        1,000         (991)
                               -------      -------      -------
   Total Consolidated          $69,349      $59,922      $ 9,427
                               =======      =======      =======



DEGREE DAYS

                                                         Percent Colder
                                                         (Warmer) Than:
Three Months Ended December 31    Normal  2000   1999   Normal  Last Year
------------------------------    ------  ----   ----   ------  ---------

  Buffalo, NY                     2,314   2,488  2,096    7.5     18.7
  Erie, PA                        2,030   2 332  1,854   14.9     25.8


Page 7

                            NATIONAL FUEL GAS COMPANY
                                AND SUBSIDIARIES

                     EXPLORATION AND PRODUCTION INFORMATION
                     --------------------------------------


                                             Three Months Ended
                                                December 31,
                                             ------------------
                                                           Increase
                                        2000      1999    (Decrease)
                                        ----      ----     --------

Gas Production/Prices:
Production (MMcf)
  Gulf Coast                            6,429     7,946     (1,517)
  West Coast                            1,044     1,116        (72)
  Appalachia                            1,043     1,107        (64)
  Canada                                  122         0        122
                                        -----    ------      -----
                                        8,638    10,169     (1,531)
                                        =====    ======      =====
Average Prices (Per  Mcf)
  Gulf Coast                            $5.91     $2.57      $3.34
  West Coast                             9.36      2.90       6.46
  Appalachia                             4.18      2.90       1.28
  Canada                                 4.75      0.00       4.75
    Weighted Average                     6.10      2.64       3.46
    Weighted Average after Hedging       3.74      2.62       1.12

Oil Production/Prices:
Production (Thousands of Barrels)
  Gulf Coast                              356       322         34
  West Coast                              745       686         59
  Appalachia                                2         3         (1)
  Canada                                  741         0        741
                                        -----     -----        ---
                                        1,844     1,011        833
                                        =====     =====        ===

Average Prices (Per Barrel)
  Gulf Coast                           $31.80    $23.36     $ 8.44
  West Coast                            26.94     19.97       6.97
  Appalachia                            30.90     21.67       9.23
  Canada                                28.01      0.00      28.01
    Weighted Average                    28.31     21.06       7.25
    Weighted Average after Hedging      23.03     17.39       5.64


Page 8

                           NATIONAL FUEL GAS COMPANY
                                AND SUBSIDIARIES


Utility Throughput - (millions of cubic feet - MMcf)

                                           Three Months Ended
                                              December 31,
                                           ------------------
                                                           Increase
                                      2000       1999    (Decrease)
                                      ----       ----     --------

    Residential Sales                24,001     20,466      3,535
    Commercial Sales                  4,451      3,678        773
    Industrial Sales                  1,674        986        688
                                     30,126     25,130      4,996
     Off-System Sales                 3,181      2,760        421
    Transportation                   17,514     16,808        706
                                     ------     ------      -----
                                     50,821     44,698      6,123
                                     ======     ======      =====

Pipeline &amp; Storage Throughput- (MMcf)
                                          Three Months Ended
                                             December 31,
                                          ------------------
                                                              Increase
                                       2000        1999      (Decrease)
                                       ----        ----       --------
Firm Transportation - Affiliated      41,420      34,073       7,347
Firm Transportation - Non-Affiliated  48,122      48,557        (435)
Interruptible Transportation           5,950         241       5,709
                                      ------      ------      ------
                                      95,492      82,871      12,621

Energy Marketing Volumes
                                          Three Months Ended
                                              December 31,
                                          ------------------
                                                            Increase
                                       2000       1999     (Decrease)
                                       ----       ----      --------
    Natural Gas (MMcf)                 8,231      9,161      (930)
                                       =====      =====       ===

International Sales Volumes
                                          Three Months Ended
                                             December 31,
                                          ------------------
                                                         Increase
                                     2000       1999     (Decrease)
                                     ----       ----      --------
    Heating (Gigajoules)           3,365,555  3,967,768  (602,213)
                                   =========  =========   =======

    Electricity (Megawatt hours)    330,024    317,655     12,369
                                    =======    =======     ======

Timber Board Feet (Thousands)
                                          Three Months Ended
                                              December 31,
                                          ------------------
                                                         Increase
                                       2000     1999     (Decrease)
                                       ----     ----      --------
   Log Sales                           2,061    2,533      (472)
   Green Lumber Sales                  2,266    1,994       272
   Kiln Dry Lumber Sales               2,068    1,608       460
                                       -----    -----       ---
                                       6,395    6,135       260
                                       =====    =====       ===


Page 9

                            NATIONAL FUEL GAS COMPANY
                                AND SUBSIDIARIES


Quarter Ended December 31(unaudited)                2000             1999
-----------------------------------                 ----             ----

  Operating Revenues                            $559,504,000      $377,031,000
                                                ============      ============

  Net Income Available for Common Stock          $52,984,000       $44,868,000
                                                 ===========       ===========

  Earnings Per Common Share:
     Basic                                             $1.35             $1.15
                                                       =====             =====
     Diluted                                           $1.32             $1.14
                                                       =====             =====

   Weighted Average Common Shares:
      Used in Basic Calculation                   39,380,113        38,923,141
                                                  ==========        ==========
      Used in Diluted Calculation                 40,173,174        39,413,008
                                                  ==========        ==========


Twelve Months Ended December 31 (unaudited)

  Operating Revenues                          $1,607,750,000    $1,299,883,000
                                              ==============    ==============

  Net Income Available for Common Stock         $135,322,000      $122,286,000
                                                ============      ============

  Earnings Per Common Share:
     Basic                                             $3.45             $3.15
                                                       =====             =====
     Diluted                                           $3.40             $3.12
                                                       =====             =====

   Weighted Average Common Shares:
      Used in Basic Calculation                   39,239,751        38,763,563
                                                  ==========        ==========
      Used in Diluted Calculation                 39,782,393        39,152,655
                                                  ==========        ==========


</PRE>


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