<TABLE> <S> <C>

<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
applicable 1996 and 1995 annual and interim financial statements of
Phillips Petroleum Company, and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000,000
       
<S>                          <C>                 <C>                 <C>                 <C>                 <C>
<PERIOD-TYPE>                3-MOS               6-MOS               9-MOS               YEAR                YEAR
<FISCAL-YEAR-END>            DEC-31-1996         DEC-31-1996         DEC-31-1996         DEC-31-1996         DEC-31-1995
<PERIOD-END>                 MAR-31-1996         JUN-30-1996         SEP-30-1996         DEC-31-1996         DEC-31-1995
<CASH>                               164                 223                 346                 615                  67
<SECURITIES>                           0                   0                   0                   0                   0
<RECEIVABLES>                      1,640               1,837               1,721               2,008               1,537
<ALLOWANCES>                          17                  20                  20                  20                  15
<INVENTORY>                          472                 523                 504                 472                 505
<CURRENT-ASSETS>                   2,452               2,755               2,764               3,306               2,409
<PP&E>                            19,273              19,570              19,847              20,103              19,088
<DEPRECIATION>                    10,734              10,844              10,998              10,983              10,595
<TOTAL-ASSETS>                    12,236              12,766              12,929              13,548              11,978
<CURRENT-LIABILITIES>              2,472               2,352               2,499               3,137               2,815
<BONDS>                            2,910               2,954               2,855               2,555               3,097
<PREFERRED-MANDATORY>                  0                 300                 300                 300                   0
<PREFERRED>                            0                   0                   0                   0                   0
<COMMON>                             585                 613                 626                 636                 533
<OTHER-SE>                         3,238               3,369               3,476               3,615               2,655
<TOTAL-LIABILITY-AND-EQUITY>      12,236              12,766              12,929              13,548              11,978
<SALES>                            3,595               7,532              11,384              15,731              13,368
<TOTAL-REVENUES>                   3,602               7,577              11,474              15,807              13,521
<CGS>                              3,033<F1>           6,295<F1>           9,490<F1>          13,170<F1>          11,394<F1>
<TOTAL-COSTS>                      3,099<F2>           6,427<F2>           9,691<F2>          13,434<F2>          11,660<F2>
<OTHER-EXPENSES>                       8<F3>              18<F3>              32<F3>              47<F3>              32<F3>
<LOSS-PROVISION>                       0                   0                   0                   0                   0
<INTEREST-EXPENSE>                    59                 118                 171                 217                 265
<INCOME-PRETAX>                      881               1,324               1,759               2,172               1,064
<INCOME-TAX>                         186                 408                 656                 869                 595
<INCOME-CONTINUING>                  695                 916               1,103               1,303                 469
<DISCONTINUED>                         0                   0                   0                   0                   0
<EXTRAORDINARY>                        0                   0                   0                   0                   0
<CHANGES>                              0                   0                   0                   0                   0
<NET-INCOME>                         695                 916               1,103               1,303                 469
<EPS-PRIMARY>                       2.65                3.49                4.20                4.96                1.79
<EPS-DILUTED>                       2.63<F4>            3.46<F4>            4.16<F4>            4.91<F4>            1.78<F4>
<FN>
<F1> Purchased crude oil and products + Production and operating expenses +
     Exploration expenses + Depreciation, depletion and amortization.
<F2> CGS + Taxes other than income taxes.
<F3> Preferred dividend requirements of subsidiary and capital trust.
<F4> Restated to reflect the adoption of Financial Accounting Standards Board
     Statement No. 128, "Earnings per Share."
</FN>
        


</TABLE>