Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
DeCarolis Donna L
   2. Issuer Name and Ticker or Trading Symbol
NATIONAL FUEL GAS CO [NFG] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President, Natl Fuel Resources
(Last)
(First)
(Middle)
165 LAWRENCE BELL DRIVE, SUITE 120		 3. Date of Earliest Transaction (Month/Day/Year)
02/28/2007
(Street)

WILLIAMSVILLE, NY 14221		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/28/2007   M   2,627 A $ 22.438 4,859 D  
Common Stock 02/28/2007   S   2,397 D $ 41.9 (4) 2,462 D  
Common Stock 02/28/2007   M   507 A $ 20.813 2,969 D  
Common Stock 01/16/2007   J V 18 (1) A $ 38.54 2,987 D  
Common Stock 12/06/2006   J V 172 (2) A $ 0 10,702 I 401k Trust
Common Stock 12/06/2006   J V 1 (3) A $ 0 172 I ESOP Trust

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee stock option - right to buy $ 20.813 02/28/2007   M     507 04/04/1998 04/04/2007 Common stock 507 $ 0 0 D  
Employee stock option - right to buy $ 22.438 02/28/2007   M     2,627 12/11/1998 12/12/2007 Common Stock 2,627 $ 0 2,627 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
DeCarolis Donna L
165 LAWRENCE BELL DRIVE
SUITE 120
WILLIAMSVILLE, NY 14221		       President, Natl Fuel Resources  

Signatures

 James R. Peterson, Attorney in Fact   03/02/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Routine acquisitions under the NFG dividend reinvestment plan, exempt under Rule 16a-9(a).
(2) Routine acquisitions under the NFG 401k Plan exempt under Rule 16b-3(c), a non-reportable transaction.
(3) Routine acquisitions under the NFG ESOP Trust, exempt under Rule 16b-3(c), a non-reportable transaction.
(4) Represents average price of shares sold. Price ranged from $41.89 to $41.92.

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