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Proc-Type: 2001,MIC-CLEAR
Originator-Name: keymaster@town.hall.org
Originator-Key-Asymmetric:
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 pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ==
MIC-Info: RSA-MD5,RSA,
 fu+0DqwdJOdnS5zP861Rq9tv6H5eT7bISEQFMrr7Mhx+1+svBk6t66KdUqbWQFv0
 JwTtUfCotQbU+bmFOVXtCg==

<IMS-DOCUMENT>0000007694-95-000015.txt : 19950203
<IMS-HEADER>0000007694-95-000015.hdr.sgml : 19950203
ACCESSION NUMBER:		0000007694-95-000015
CONFORMED SUBMISSION TYPE:	424B2
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19950202
SROS:			NYSE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ASHLAND OIL INC
		CENTRAL INDEX KEY:			0000007694
		STANDARD INDUSTRIAL CLASSIFICATION:	PETROLEUM REFINING [2911]
		IRS NUMBER:				610122250
		STATE OF INCORPORATION:			KY
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		424B2
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-51095
		FILM NUMBER:		95504927

	BUSINESS ADDRESS:	
		STREET 1:		1000 ASHLAND DRIVE
		CITY:			RUSSELL
		STATE:			KY
		ZIP:			41169
		BUSINESS PHONE:		6063293333

	MAIL ADDRESS:	
		STREET 1:		P O BOX 391
		CITY:			ASHLAND
		STATE:			KY
		ZIP:			41101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ASHLAND OIL & REFINING CO
		DATE OF NAME CHANGE:	19700806
</IMS-HEADER>
<DOCUMENT>
<TYPE>424B2
<SEQUENCE>1
<TEXT>




                                           Filed under Rule 424(b)(2)
                                           Registration No. 33-51095 and
                                           Registration No. 33-42141


 Pricing Supplement No. 16 Dated February 2, 1995
 ------------------------------------------------

 To  Prospectus Dated December 2, 1993 
     Prospectus Supplement Dated December 2, 1993

                                     $301,627,000

                                   ASHLAND OIL, INC.

                              MEDIUM-TERM NOTES, SERIES F

                     Due from 9 Months or More from Date of Issue

                       Principal Amount:           $10,000,000

               (Total Principal Amount Issued to Date:     $173,000,000)


       Original Issue Date:                          February 9, 1995 
                                                    ------------------- 

       Maturity Date:                                February 9, 2005
                                                    ------------------- 

       Interest Rate:                                      8.42%
                                                    -------------------

 Redemption:

 Check box opposite applicable paragraph.

  [ x ]      The Notes cannot be redeemed prior to maturity.

  [   ]      The Notes may be redeemed prior to maturity. 


 Initial Redemption Date:

       The optional Redemption Price on and after the Initial Redemption
 Date shall initially be      % of the principal  amount of the Notes to
 be  redeemed and  shall  decline  at each  anniversary of  the  Initial
 Redemption Date by       % of the principal amount to be redeemed until
 the Optional Redemption Price is 100% of such principal amount.

 Commission to be paid to agent                         $ 60,000.00
 Citicorp Securities, Inc.                              -------------- 


<PAGE>

                                           Filed under Rule 424(b)(2)
                                           Registration No. 33-51095 and
                                           Registration No. 33-42141


 Pricing Supplement No. 17 Dated February 2, 1995
 ------------------------------------------------

 To  Prospectus Dated December 2, 1993 
     Prospectus Supplement Dated December 2, 1993

                                     $301,627,000

                                   ASHLAND OIL, INC.

                              MEDIUM-TERM NOTES, SERIES F

                     Due from 9 Months or More from Date of Issue

                       Principal Amount:           $1,000,000

               (Total Principal Amount Issued to Date:  $174,000,000)


       Original Issue Date:                           February 9, 1995 
                                                    ------------------- 
       
       Maturity Date:                                 February 9, 2005
                                                    ------------------- 

       Interest Rate:                                      8.42%
                                                    -------------------

 Redemption:

 Check box opposite applicable paragraph.

  [ x ]      The Notes cannot be redeemed prior to maturity.

  [   ]      The Notes may be redeemed prior to maturity. 


 Initial Redemption Date:

       The optional Redemption Price on and after the Initial Redemption
 Date shall initially be      % of the principal  amount of the Notes to
 be  redeemed and  shall  decline  at each  anniversary of  the  Initial
 Redemption Date by       % of the principal amount to be redeemed until
 the Optional Redemption Price is 100% of such principal amount.

 Commission to be paid to Agent.                         $ 6,000.00
                                                        -------------- 


</TEXT>
</DOCUMENT>
</IMS-DOCUMENT>
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