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                 SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C. 20549
                                  
                                  
                              FORM 10-Q
                                  
                                  
(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934

  For the quarterly period ended March 31, 1997 or

( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934

  For the transition period from           to

Commission file number 1-170-2


                      AMOCO CORPORATION
    (Exact name of registrant as specified in its charter)

               INDIANA                            36-1812780
(State or other jurisdiction of              (I.R.S. Employer
 incorporation or organization)               Identification No.)

 200 EAST RANDOLPH DRIVE, CHICAGO, ILLINOIS            60601
 (Address of principal executive offices)           (Zip Code)

                           312-856-6111
       (Registrant's telephone number, including area code)

                         NOT APPLICABLE
    (Former name, former address, and former fiscal year, if
     changed since last report)

Indicate  by  check mark whether the registrant (1)  has  filed  all
reports  required  to  be  filed by  Section  13  or  15(d)  of  the
Securities  Exchange Act of 1934 during the preceding 12 months  (or
for  such  shorter period that the registrant was required  to  file
such  reports), and (2) has been subject to such filing requirements
for the past 90 days.
               Yes  X       No

Number of shares outstanding as of March 31, 1997--494,162,176
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                   PART I-- FINANCIAL INFORMATION
                                  
Item 1.  Financial Statements

Consolidated Statement of Income
(millions of dollars)

                                               Three Months Ended
                                                   March 31,
                                                  1997      1996
Revenues:                                                
  Sales and other operating revenues.........  $ 8,076   $ 7,277
  Consumer excise taxes......................      815       819
  Other income...............................      102       118
    Total revenues...........................    8,993     8,214
                                                         
Cost and Expenses:                                       
  Purchased crude oil, natural gas,                      
    petroleum products and merchandise.......    4,458     3,875
  Operating expenses.........................    1,220     1,083
  Petroleum exploration expenses,                        
    including exploratory dry holes..........      156       120
  Selling and administrative expenses........      532       535
  Taxes other than income taxes..............    1,045     1,027
  Depreciation, depletion, amortization,                 
    and retirements and abandonments.........      562       538
  Interest expense...........................       78        60
    Total costs and expenses.................    8,051     7,238
                                                         
Income before income taxes...................      942       976
                                                         
Income taxes.................................      268       248
                                                         
Net income...................................  $   674   $   728
                                                         
Weighted average number of shares of common              
  stock outstanding (in thousands)...........  495,287   496,677
                                                         
Per Share Data (Based on weighted                        
  average shares outstanding):                           
                                                         
Net income...................................  $  1.36   $  1.47
                                                         
Cash dividends per share.....................  $   .70   $   .65
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Consolidated Statement of Financial Position
(millions of dollars)
                                                March 31,  Dec. 31,
                    ASSETS                        1997       1996
Current assets:                                            
  Cash......................................... $    300   $    186
  Marketable securities -- at cost (all                    
corporate
    except $141 at December 31, 1996 which                 
    represent state and municipal securities)..    1,027      1,135
  Accounts and notes receivable (less                      
    allowances of $17 at both March 31, 1997,              
    and December 31, 1996).....................    3,520      3,942
  Inventories                                              
    Crude oil and products.....................      946        795
    Materials and supplies.....................      277        274
  Prepaid expenses and income taxes............      742        731
    Total current assets.......................    6,812      7,063
Investments and Other Assets:                              
  Investments and related advances.............      855        796
  Long-term receivables and other assets.......      779        841
                                                   1,634      1,637
Properties--at cost, less accumulated depre-               
  ciation, depletion and amortization of                   
  $27,537 at March 31, 1997, and $27,111 at                
  December 31, 1996 (The successful efforts                
  method of accounting is followed for costs               
  incurred in oil and gas producing activities)   23,339     23,400
    Total assets............................... $ 31,785   $ 32,100
                                                           
     LIABILITIES AND SHAREHOLDERS' EQUITY                  
Current liabilities:                                       
  Current portion of long-term obligations..... $    326   $    151
  Short-term obligations.......................    1,027        821
  Accounts payable.............................    2,588      3,196
  Accrued liabilities..........................      938        908
  Taxes payable (including income taxes).......      921      1,063
    Total current liabilities..................    5,800      6,139
                                                           
Long-term obligations:                                     
  Debt.........................................    4,014      4,153
  Capitalized leases...........................       83         76
                                                   4,097      4,229
Deferred Credits and Other Non-Current Liabilities:        
  Income taxes.................................    3,033      2,850
  Other........................................    2,351      2,345
                                                   5,384      5,195
Minority Interest..............................      128        129
                                                           
Shareholders' Equity:                                      
  Common stock (authorized 800,000,000 shares;             
    issued and outstanding at March 31, 1997               
    --494,162,176; December 31, 1996                       
    --497,275,364 shares)......................    2,626      2,646
  Earnings retained and invested in the                    
    business...................................   13,882     13,806
  Pension liability adjustment.................      (25)       (25)
  Foreign currency translation adjustment......     (107)       (19)
                                                  16,376     16,408
    Total liabilities and shareholders' equity. $ 31,785   $ 32,100
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<PAGE>                                                           
Consolidated Statement of Cash Flows
(millions of dollars)
                                                Three Months Ended
                                                     March 31,
                                                  1997       1996
Cash Flows from Operating Activities:                     
  Net income................................... $   674   $   728
  Adjustments to reconcile net income to net              
    cash provided by operating activities:                
    Depreciation, depletion, amortization,                
      and retirements and abandonments.........     562       538
    Decrease in receivables....................     431        18
    Increase in inventories....................    (154)      (24)
    Decrease in payables and accrued                      
      liabilities..............................    (726)     (381)
    Deferred taxes and other items.............     133       (98)
    Net cash provided by operating activities..     920       781
                                                          
Cash Flows from Investing Activities:                     
  Capital expenditures.........................    (831)     (784)
  Proceeds from dispositions of properties                
    and other assets...........................     265       248
  Net investments, advances and business                  
    acquisitions...............................     (48)     (702)
  Proceeds from sales of investments...........      34       100
  Other........................................       5        (1)
    Net cash used in investing activities......    (575)   (1,139)
                                                          
Cash Flows from Financing Activities:                     
  New long-term obligations....................     130        17
  Repayment of long-term obligations...........     (56)     (269)
  Cash dividends paid..........................    (345)     (312)
  Issuances of common stock....................      57        19
  Acquisitions of common stock.................    (331)        -
  Increase in short-term obligations...........     206       247
    Net cash used in financing activities......    (339)     (298)
                                                          
Increase (decrease) in Cash and Marketable                
  Securities...................................       6      (656)
Cash and Marketable Securities-                           
  Beginning of Period..........................   1,321     1,394
Cash and Marketable Securities-End of Period...   1,327   $   738
<PAGE>
<PAGE>                                                          
Basis of Financial Statement Preparation

The   consolidated  financial  statements  contained  herein  are
unaudited  and have been prepared from the books and  records  of
Amoco  Corporation ("Amoco" or the "Corporation"). In the opinion
of  management, the consolidated financial statements reflect all
adjustments,  consisting  of only normal  recurring  adjustments,
necessary  for  a fair statement of the results for  the  interim
periods. The consolidated financial statements have been prepared
in  accordance with the instructions to Form 10-Q and, therefore,
do not include all information and notes necessary for a complete
presentation  of  results of operations, financial  position  and
cash  flows  in  conformity  with generally  accepted  accounting
principles.


Item 2. Management's Discussion and Analysis

Results of Operations

Net  income  for  the  first quarter of  1997  amounted  to  $674
million, or $1.36 per share. Net income for the first quarter  of
1996  amounted  to  $672 million, or $1.36 per  share,  excluding
gains  of  $56  million in the first quarter of 1996  on  certain
Canadian asset dispositions.

The  slight  increase in earnings for the first quarter  of  1997
reflected  continued  strong exploration and  production  ("E&P")
earnings,   primarily  attributable  to  higher  energy   prices.
Petroleum  products  earnings declined  as  a  result  of  higher
refining   maintenance  costs  and  lower  throughput.   Chemical
earnings  declined  reflecting lower margins compared  with  high
prior-year levels.

Sales  and other operating revenues totaled $8.1 billion for  the
first  quarter of 1997, 11 percent higher than the  $7.3  billion
reported in the corresponding 1996 period. Natural gas, crude oil
and  refined products revenues increased 28 percent,  19  percent
and 7 percent, respectively, primarily reflecting higher prices.

Purchases  of  crude  oil, natural gas,  petroleum  products  and
merchandise  totaled $4.5 billion for the first three  months  of
1997,  15  percent  higher than 1996's first  three  months.  The
increase  was primarily attributable to higher crude oil purchase
prices.

Operating  expenses  of $1.2 billion increased  13  percent  over
first-quarter   1996,  reflecting  higher  refining   maintenance
expenses  and  an increase in U.S. production costs.  Exploration
costs of $156 million increased 31 percent over the first-quarter
of 1996, mainly due to higher dry hole costs overseas.

For  the  12  months  ended  March 31, 1997,  return  on  average
shareholders' equity was 17.6 percent compared with 13.8  percent
for the 12 months ended March 31, 1996. Return on average capital
employed was 13.4 percent for the 12-month period ended March 31,
1997, compared with 11.0 percent for the corresponding prior-year
period.

Results by Industry Segment

As  previously  announced, Amoco changed  the  basis  upon  which
operations  are  grouped  for  the purpose  of  business  segment
reporting to maintain alignment with changes made in its internal
structure.  Canadian  supply and marketing operations  for  crude
oil,  sulfur  and  natural gas liquids are now  included  in  the
Petroleum  Products  segment. Previously, those  businesses  were
reported in the E&P segment. Segment earnings for 1996 have  been
restated to conform to the new basis.

                                     Three Months Ended
                                          March 31,
(millions of dollars)                  1997      1996
Exploration and Production                     
  United States....................  $  365    $  281
  Canada...........................      81        90
  Overseas.........................     127       121
  Subtotal.........................     573       492
Petroleum Products.................      28        62
Chemicals..........................     147       240
Corporate and Other Operations*....     (74)      (66)
  Net Income.......................  $  674    $  728
                                               

* Corporate and other operations include net interest and general
 corporate  expenses  as well as the results  of  investments  in
 technology   companies,   real  estate   interests   and   other
 activities.


Operating Statistics
                                     Three Months Ended
                                         March 31,
                                      1997      1996
Net Production of Natural Gas                  
(million cubic feet per day)                   
  United States....................   2,381     2,584
  Canada...........................     771       846
  Overseas.........................   1,047     1,079
    Total..........................   4,199     4,509
                                               
Net Production of Crude Oil and NGL            
(thousand barrels per day)                     
  United States--crude oil.........     170       183
               --NGL...............     116       107
  Canada--crude oil................      50        53
        --NGL......................      10        11
  Overseas.........................     308       290
    Total..........................     654       644
Operating Statistics (continued)
                                     Three Months Ended
                                         March 31,
                                      1997      1996
U.S. Refined Product Sales                     
(thousand barrels per day)                     
  Gasoline.........................     585       611
  Distillates......................     329       367
  Other products...................     157       148
    Total..........................   1,071     1,126
                                               
Input to U.S. Crude Units                      
(thousand barrels per day).........     877       913
                                               
Refinery Utilization Rate..........     87%       90%
                                               

Exploration and Production - U. S.

U.S. E&P operations earned $365 million in the first three months
of  1997  compared with $281 million for the similar 1996 period.
The  increase primarily resulted from higher energy prices, which
more   than  offset  lower  production  reflecting  normal  field
declines and dispositions.

Amoco's   first-quarter   U.S.  natural   gas   prices   averaged
approximately  $2.50 per thousand cubic feet ("mcf"),  over  $.70
per  mcf  above the first quarter of 1996. Amoco's average  crude
oil  prices increased about $3.40 per barrel and averaged  almost
$20.90 per barrel for the quarter.

Altura  Energy  Ltd. ("Altura") began operations March  1,  1997.
Altura,  a  limited  partnership formed by Amoco  and  Shell  Oil
Company,  combined the two companies' E&P assets in  the  Permian
Basin area of west Texas and southeast New Mexico. Amoco has a 64
percent interest.

Exploration and Production - Canada

Canadian  operations earned $81 million in the first  quarter  of
1997  compared with restated 1996 first-quarter earnings  of  $34
million,  excluding gains of $56 million on the sale  of  assets.
The  gain  on  asset dispositions included the  sale  of  Amoco's
remaining   investment  in  Crestar  Energy  Inc.  The  operating
earnings improvement resulted primarily from higher energy prices
and   lower  exploration  expenses,  partially  offset  by  lower
production  due  to  property  dispositions  and  natural   field
declines.

Amoco's  Canadian natural gas prices averaged $1.80 per  mcf  for
the  quarter,  about 65 cents higher than 1996's  first  quarter.
Canadian  crude  oil prices averaged $17.00 per  barrel  for  the
first  quarter  of  1996, 16 percent higher than  the  prior-year
first quarter average.

Exploration and Production - Overseas

Overseas  E&P operations earned $127 million for the first  three
months  of  1997 compared with $121 million earned in  the  first
quarter  of  1996. Favorably affecting 1997 earnings were  higher
crude  oil  production  and  prices compared  with  1996.  Partly
offsetting were higher exploration expenses and lower natural gas
production.

Petroleum Products

Petroleum  Products activities earned $28 million for  the  first
three  months  of  1997, compared with restated earnings  of  $62
million  for  the  comparable  1996 period.  The  1996  earnings,
previously  reported  as $18 million, were  restated  to  include
Canadian  supply and marketing operations for crude  oil,  sulfur
and natural gas liquids.

The  decline in first-quarter 1997 earnings resulted from  higher
refining  maintenance  costs  and  lower  throughput,  reflecting
planned  turnaround at Amoco's largest refineries.  First-quarter
1997  earnings  from  Canadian supply  and  marketing  operations
increased compared with the first quarter of 1996.

Chemicals

Chemical earnings of $147 million for the first quarter  of  1997
compared  with  $240  million for the similar  1996  period.  The
decline  in  first-quarter earnings primarily  reflected  reduced
paraxylene and purified terephthalic acid (PTA) margins from high
prior-year  levels.  Favorably  affecting  earnings  were  higher
olefins  margins  and increased sales volumes  for  most  product
lines.  Sales volumes for both PTA and paraxylene increased  over
35 percent, in part reflecting Amoco's recent capacity additions.

Corporate and Other Operations

Corporate  and other operations include net interest and  general
corporate  expenses  as  well as the results  of  investments  in
technology companies, real estate interests and other activities.
Corporate  and  other  operations incurred net  expenses  of  $74
million  for  the first three months of 1997, compared  with  net
expenses  after  tax  of  $66 million in the  corresponding  1996
period.

Outlook

The Corporation and the oil industry will continue to be affected
by  the  volatility  of crude oil and natural gas  prices.  Also,
affecting  chemicals  and petroleum products  activities  is  the
overall  industry  product  supply and  demand  balance.  Amoco's
future  performance is expected to continue  to  be  impacted  by
ongoing  cost  reduction  programs; the  divestment  of  marginal
properties  and  underperforming  assets;  application   of   new
technologies; and new governmental regulations.

Amoco's  exploration efforts will continue to target those  areas
that  offer  the  most potential. Amoco will  pursue  areas  that
capitalize  on its natural gas resources and continue  to  expand
internationally.    Amoco's    worldwide    barrel-oil-equivalent
production is expected to increase from 1996 levels by 25 percent
over the next five years, with the largest increases expected  to
occur  in  the  later years. Production in 1997  is  expected  to
increase  slightly, with incremental production anticipated  from
the  Gulf of Mexico, and production from Venezuela, Colombia  and
Bolivia.

In  the  petroleum products sector, Amoco does not  anticipate  a
significant improvement in U.S. industry refining margins in  the
near   term.  Amoco  will  continue  to  pursue  additional  cost
reduction  programs  and  improved  asset  utilization.   Amoco's
marketing  strategy  will  continue to  emphasize  brand  product
quality  and  growth  in its position as a convenience  retailer.
Strategic alliances with such companies as McDonald's Corporation
and Femsa in Mexico are expected to be expanded.

In the chemical sector, Amoco's overall strategy is to manage its
portfolio  to  optimize  the quality of  its  businesses  through
acquisitions,  divestments  and selectively  investing  in  local
market  growth  for existing businesses. While  current  industry
excess PTA capacity is putting downside pressure on margins, long-
term worldwide growth is expected to be 8 percent. PTA expansions
are  scheduled to be completed over the next two years at  wholly
owned facilities in South Carolina and Belgium, and joint-venture
plants  in  China  and Indonesia. PX long-term annual  growth  is
expected  to be 6 percent. A PX joint-venture plant in  Singapore
began  commercial  production in early 1997. In  addition,  Amoco
announced plans to build a $250 million (Canadian) alpha  olefins
plant in Alberta, Canada, with initial production capacity of 550
million pounds per year.


Liquidity and Capital Resources

Cash  flows from operating activities for the first three  months
of  1997  amounted to $920 million compared with $781 million  in
the prior-year period. Working capital of $1,012 million at March
31,  1997  compared with $924 million at December 31,  1996.  The
Corporation's  current ratio was 1.17 to 1  at  March  31,  1997,
compared with 1.15 to 1 at year-end 1996. As a matter of  policy,
Amoco  practices  asset and liability management techniques  that
are  designed  to  minimize its investment  in  non-cash  working
capital.  This does not impair operational flexibility since  the
Corporation  has ready access to both short- and  long-term  debt
markets.

Amoco's  debt  totaled $5.4 billion at March 31,  1997  and  $5.1
billion  at  year-end  1996. Debt as a percentage  of  debt-plus-
equity  was  24.5 percent at March 31, 1997, and 23.6 percent  at
year-end  1996.  Amoco  Corporation guarantees  the  public  debt
obligations of Amoco Company. Amoco Corporation and Amoco Company
guarantee  the  public  notes  and  debentures  of  Amoco  Canada
Petroleum  Company Ltd. ("Amoco Canada") and Amoco Argentina  Oil
Company ("Amoco Argentina").

Cash  dividends  paid in the first quarter of 1997  totaled  $345
million. The quarterly dividend was raised to 70 cents per  share
for  the first quarter of 1997, an increase of 5 cents per share,
or eight percent, over the previous rate.

Through  March 1997, 3.2 million shares of Amoco's  common  stock
were  repurchased at a cost of $275 million as  part  of  the  $2
billion, two-year common stock repurchase program.

The  Corporation  believes  its strong  financial  position  will
permit the financing of business needs and opportunities as  they
arise. It is anticipated that ongoing operations will be financed
primarily  by internally generated funds. Short-term obligations,
such  as  commercial paper borrowings, give the  Corporation  the
flexibility  to  meet  short-term  working  capital   and   other
temporary  requirements. At March 31, 1997, bank lines of  credit
available to support commercial paper borrowings amounted to $500
million, all of which were supported by commitment fees.

The  Corporation also may utilize its favorable access  to  long-
term  debt markets to finance profitable growth opportunities.  A
$500  million  shelf  registration statement  for  Amoco  Company
remains  on  file  with  the Securities and  Exchange  Commission
("SEC") to permit ready access to capital markets. In 1995, Amoco
Argentina  filed  a  shelf registration with  the  SEC  for  $200
million  in  debt  securities, of  which  $100  million  in  debt
securities  were  subsequently issued. In early  1997,  the  $100
million remaining under this registration was issued.

Capital  and exploration expenditures for the first three  months
of  1997 totaled $987 million compared with $904 million for  the
similar  1996  period.  Approximately  79  percent  of  the  1997
expenditures  was  spent  in  E&P  operations.  Amoco  previously
announced a 1997 capital and exploration spending program of $4.1
billion,  compared with 1996 spending of $4.6 billion.  The  1997
capital spending program excludes $307 million for pre-funding in
April  1997  expenditures  relating to the  operatorship  and  50
percent  ownership  in  a Bolivian oil and gas  company,  Empresa
Petrolera Chaco.

The  Corporation has provided in its accounts for the  reasonably
estimable  future  costs  of  probable environmental  remediation
obligations   relating  to  various  oil  and   gas   operations,
refineries,  marketing  sites and chemical  locations,  including
multiparty  sites at which Amoco and certain of its  subsidiaries
have  been identified as potentially responsible parties  by  the
U.S.  Environmental Protection Agency. Such estimated costs  will
be  refined  over  time as remedial requirements and  regulations
become  better  defined.  However, any  additional  environmental
costs  cannot  be  reasonably  estimated  at  this  time  due  to
uncertainty  of  timing, the magnitude of  contamination,  future
technology, regulatory changes and other factors. Although future
costs  could  have  a  significant  effect  on  the  results   of
operations  in  any  one  period, they are  not  expected  to  be
material   in  relation  to  Amoco's  liquidity  or  consolidated
financial position. In total, the accrued liability represents  a
reasonable best estimate of Amoco's remediation liability.


"Safe  Harbor" Statement under the Private Securities  Litigation
Reform Act of 1995.

Statements  in  this  report  that  are  not  historical   facts,
including  statements under the heading of  "Outlook"  and  other
statements  about  industry  and  company  growth,  estimates  of
expenditures and savings, and other trend projections are forward
looking   statements.  The  statements  are  based   on   current
expectations  and involve risk and uncertainties.  Actual  future
results or trends may differ materially depending on a variety of
factors.  These  include  specific  factors  identified  in   the
discussion accompanying such forward looking statements, industry
product  supply  and  pricing, political stability  and  economic
growth  in  relevant areas of the world, the Company's successful
execution   of   its   internal  performance  plans,   successful
partnering, actions of competitors, natural disasters  and  other
changes to business conditions.


                   PART II--OTHER INFORMATION
                                
Item 1.  Legal Proceedings

Reference  is  made to the description of the  challenge  by  the
Internal  Revenue  Service of certain  foreign  income  taxes  as
credits against the Corporation's U.S. taxes that otherwise would
have been payable for the years 1980 through 1992 in Part I, Item
3 of Amoco's 1996 Form 10-K.

Thirteen  proceedings instituted by governmental authorities  are
pending or known to be contemplated against Amoco and certain  of
its  subsidiaries  under  federal, state or  local  environmental
laws,  each of which could result in monetary sanctions in excess
of $100,000. No individual proceeding is, nor are the proceedings
as a group, expected to have a material adverse effect on Amoco's
liquidity,   consolidated  financial  position  or   results   of
operations.  Amoco estimates that in the aggregate  the  monetary
sanctions  reasonably likely to be imposed from these proceedings
amount to approximately $7.6 million.

Amoco has various other suits and claims pending against it among
which  are several class actions for substantial monetary damages
which  in  Amoco's  opinion  are not  meritorious.  While  it  is
impossible  to  estimate with certainty the  ultimate  legal  and
financial  liability in respect to these other suits and  claims,
Amoco  believes  that,  while  the  aggregate  amount  could   be
significant, it will not be material in relation to its liquidity
or its consolidated financial position.

Item 2.  Changes in Securities

Not applicable.

Item 3.  Defaults upon Senior Securities

Not applicable.

Item 4.  Submission of Matters to a Vote of Security Holders

(a)  The Annual Meeting of Shareholders was held on April 22,
1997.

(b)  Not applicable

(c)   Four  persons  nominated by the  Board  of  Directors  were
elected   directors.  Proxies  for  the  meeting  were  solicited
pursuant  to  Regulation  14A;  there  was  no  solicitation   in
opposition   to  management's  nominees  listed  in   the   proxy
statement.  Results  of the election were as follows:  Erroll  B.
Davis, Jr., shares for 421,919,642, shares withheld 2,435,553; H.
Laurance   Fuller,  shares  for  421,718,928,   shares   withheld
2,636,267;  Martha  R.  Seger,  shares  for  421,839,169,  shares
withheld  2,516,026; Theodore M. Solso, shares  for  422,036,228,
shares  withheld  2,318,967; Abstentions for the  nominees  as  a
group  totaled 2,636,267. With respect to the concurrence in  the
appointment  of  Price  Waterhouse LLP to  serve  as  independent
accountants  for Amoco and its subsidiaries for the  fiscal  year
1997  the results were as follows: shares for 422,292,286, shares
against 1,020,881 and abstentions 1,042,028.

(d)  Not applicable
<PAGE>
<PAGE>
Item 5.  Other Information

Shown below is summarized financial data of Amoco's wholly
owned subsidiary, Amoco Company.
                                               Three Months
                                                  Ended
                                                March 31,
                                             1997        1996
                                           (millions of dollars)
Total revenues (including excise taxes)...  $ 8,074     $ 7,404
Net income................................  $   556     $   598
                                                       
                                           March 31,   Dec. 31,
                                             1997        1996
Current assets............................  $ 6,894     $ 6,361
Total assets..............................  $29,809     $29,208
Current liabilities.......................  $ 5,100     $ 4,926
Long-term debt - affiliates...............  $ 4,645     $ 4,731
               - other....................  $ 2,076     $ 2,190
Deferred credits..........................  $ 4,643     $ 4,524
Minority interest.........................  $   131     $   131
Shareholder's equity......................  $13,131     $12,630
                                                       


Shown below is summarized financial data of Amoco's wholly
owned subsidiary, Amoco Canada.
                                               Three Months
                                                  Ended
                                                March 31,
                                             1997        1996
                                           (millions of dollars)
Revenues..................................  $ 1,350     $ 1,033
Net income................................  $   141     $    93
                                                       
                                           March 31,   Dec. 31,
                                             1997        1996
Current assets............................  $ 1,487     $ 1,615
Total assets..............................  $ 4,300     $ 4,412
Current liabilities.......................  $   836     $ 1,110
Non-current liabilities...................  $ 3,398     $ 3,377
Shareholder's equity (deficit)............  $    66     $   (75)
                                                       


Shown below is summarized financial data of Amoco's indirectly
wholly owned subsidiary, Amoco Argentina.
                                               Three Months
                                                  Ended
                                                March 31,
                                             1997        1996
                                           (millions of dollars)
Revenues..................................  $    85     $    75
Net income................................  $    32     $    27
                                                       
                                           March 31,   Dec. 31,
                                             1997        1996
Current assets............................  $   322     $   251
Total assets..............................  $   699     $   613
Current liabilities.......................  $    96     $    87
Non-current liabilities...................  $   282     $   237
Shareholder's equity......................  $   321     $   289
                                                       


Item 6.  Exhibits and Reports on Form 8-K

(a)Exhibits

     Exhibit
     Number
     12      Statement Setting Forth Computation of
             Ratio of Earnings to Fixed Charges.

     27      Financial Data Schedule.

(b)  A current report on Form 8-K dated April 14, 1997, was filed
to  restate segment earnings for the years 1996, 1995  and  1994,
and quarterly segment earnings for 1996 and 1995. The Corporation
changed  the  basis  upon which operations are  grouped  for  the
purpose of business segment reporting to maintain alignment  with
changes made in its internal structure. Beginning with the  first
quarter  of  1997, Canadian supply and marketing  operations  for
crude  oil,  sulfur and natural gas liquids are included  in  the
Petroleum  Products  segment. Previously, those  businesses  were
reported in the E&P segment.
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                            Signature
                                
Pursuant  to the requirements of the Securities Exchange  Act  of
1934, the registrant has duly caused this report to be signed  on
its behalf by the undersigned thereunto duly authorized.


                                   Amoco Corporation
                                    (Registrant)


Date: May 13, 1997

                                   Judith G. Boynton
                                   Judith G. Boynton
                                   Vice President and Controller
                                   (Duly Authorized and Chief
                                    Accounting Officer)
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