Founding and early years[edit]

Ashland was founded in 1924 as the Ashland Refining Company in Catlettsburg, Kentucky,
by Paul G. Blazer.[2]
In October 1923, J. Fred Miles of the Swiss Oil Company of Lexington, Kentucky.[3] employed Paul
G. Blazer and assigned him the task of locating, purchasing and operating a refinery in northeastern
Kentucky. Mr. Blazer selected a location on the banks of the Big Sandy River approximately two
miles south of the Ohio River near the community of Leech Station. One mile south of the city of
Catlettsburg, the site contained an existing refinery which was purchased by Blazer which had been
in operation since 1916. The Catlettsburg site was advantageous due to it's location near the Ohio
River and offered an efficient means of transportation for the fledgling company. With funds supplied
by Swiss Oil, Blazer arranged to buy, at a price of $212,500, the small unprofitable 1,000 barrel per
day refinery of Great Eastern Refining Company which had been owned by coal operators in
Huntington, West Virginia. With the purchase of the refinery came a small towboat and oil barge. [4]
On February 2, 1924, Blazer and three Swiss Oil executives incorporated Ashland Refining
Company, with a paid in capital of $250,000. They took over the operations of the Catlettsburg
Refinery which had twenty-five employees who were working seven days per week and twelve hours
per day. Blazer moved from Lexington to Ashland. The only member of the Swiss Oil organization to
come to Ashland with Blazer was Ashland Refining Company's first treasurer, William Waples. [4]
Ashland's refinery operations in Catlettsburg proved to be successful even from the very first month.
Wages were increased and the hours of work were reduced. After making repairs and purchasing
some new, modern equipment, the refinery soon had output of 500,000 barrels a year and sales of
$1,300,000. In only a few years, the Ashland Refining Company began to show larger returns than
the parent company.[4] Ashland Refining Co. grew rapidly through both internal expansion and
acquisitions including Union Gas and Oil Company (1925), Tri-State Refining Company (1930), and
Cumberland Pipeline Company (1931).[5]
By 1933, Ashland Refining Company owned more than 1,000 wells, 800 miles of pipelines, bulk
distribution plants in twelve cities, service stations, river transportation terminals and river
equipment. In 1936, under Blazer's leadership, the company's ownership changed from Swiss Oil to
the Ashland Oil and Refining Company shareholder group and was headquartered in Ashland,
Kentucky. Blazer was appointed chief executive officer of the company. Blazer's success as
manager was recognized by major stockholders. They gave him the power to run Ashland as his
own operation, though at no point during his tenure as chief executive officer (19361957) did he
own a controlling interest in the company.[6]
Blazer's philosophy of supporting the well-being of company employees was evident early on, two of
his early changes were offering employees' sick leave with full pay and in 1947 the introduction of an
employee profit-sharing plan. This move made the company one of the first in the region to offer
such benefits. Blazer supported creative arts and invited nearby Greenup County educator and
internationally acclaimed author Jesse Stuart to open each annual meeting with a story, a poem, or a
bit of humor. He also was a pastor at his local church.