0000007694-98-000008 4 1 19971231 19980109 NYSE ASHLAND INC 0000007694 2911 610122250 KY 0930 4 34 001-02918 98503592 1000 ASHLAND DRIVE RUSSELL KY 41169 6063293333 P O BOX 391 ASHLAND KY 41101 ASHLAND OIL INC 19920703 ASHLAND OIL & REFINING CO 19700806 ZACHEM HARRY M 0001023539 OFFICER 4 PO BOX 391 ASHLAND KY 41114 6063293333 C/O ASHLAND INC 1000 ASHLAND DRIVE PO BOX 391 RUSSELL KY 41169 4 1 000000769498000008-001-seq1-4.txt FORM 4 - DECEMBER 31, 1997