A large independent refiner, Ashland Oil reported a 52.2 percent drop in earnings.

Ashland Oil predicted its earnings would drop and said it would try to sell up to $250 million of assets to reduce debt.

Ashland Oil said it lost $9 million.

As a result, a Federal grand jury indicted Ashland Oil.

A large refiner, Ashland Oil, said it lost $9 million in the period.

Ashland Oil, a large refiner, said last Friday that it expected a loss this quarter.

This hit Ashland Oil particularly hard since much of its business is made up of gasoline sales.

Ashland Oil, the lone wolf of the energy pack, fell 2 1/4, to 64, on a negative analyst report.

That same year, the company was sold to Ashland Oil.

Ashland Oil, the nation's largest independent refiner, said its refining profits rose nearly threefold.