PRICING SUPPLEMENT NO. 3                  Filed under Rule 424(b)(3)
To Prospectus Dated April 20, 1990 and    File Number 33-34133-01 
Prospectus Supplement Dated February 17, 1994

                            MOBIL OIL CORPORATION
                      EMPLOYEE STOCK OWNERSHIP PLAN TRUST

                               MEDIUM-TERM NOTES
                        GUARANTEED BY MOBIL CORPORATION

              Due More Than Nine Months From the Date of Issue

FACE AMOUNT:  $30,000,000                    CUSIP:  60708Q AC5

FORM:  Book Entry

ORIGINAL ISSUE          INITIAL REDEMPTION      INTEREST RATE:
DATE:  02/28/95         DATE:  02/28/99          8.225%

INTEREST ACCRUAL        INITIAL REDEMPTION      ORIGINAL MATURITY
DATE:  02/28/95         PERCENTAGE  100%        DATE:  08/31/04

APPLICABILITY OF        OPTIONAL REPAYMENT      TOTAL AMOUNT
MODIFIED PAYMENT        DATES:  N/A             OF OID:  N/A
UPON ACCELERATION:  N/A

APPLICABILITY           ANNUAL REDEMPTION       ORIGINAL 
OF ANNUAL INTEREST      PERCENTAGE REDUCTION:   YIELD TO
PAYMENTS:  N/A          N/A                     MATURITY:  N/A

INTEREST                SPECIFIED               INITIAL
PAYMENT                 CURRENCY:               ACCRUAL
DATES:                  U.S. dollars            PERIOD OID:  N/A
The last day of
February and August
each year beginning
with 08/31/95

AGENT:  Morgan Stanley & Co.

AGENT'S DISCOUNT OR
  COMMISSIONS:  0.30%

NET PROCEEDS TO ISSUER:  99.7%

         The Date of this Pricing Supplement is February 22, 1995


                        DESCRIPTION OF THE OFFERED NOTES


General

      The following description of the terms of the Notes offered
by this Pricing Supplement (the "Offered Notes") supplements, and
to the extent inconsistent therewith replaces, the description of
the general terms and provisions of the Medium-Term Notes set
forth in the accompanying Prospectus Supplement and of the Debt
Securities set forth in the accompanying Prospectus, to which
descriptions reference is hereby made.  Capitalized terms not
otherwise defined herein which are defined in the Prospectus
Supplement have the meanings set forth therein.  


Interest

      The Offered Notes are Fixed Rate Notes.  Interest at 8.225%
per annum is payable semiannually on the last day of each
February and August beginning with August 31, 1995.


Payment of Principal and Interest

      If any Interest Payment Date or the Original Maturity Date
falls on a day that is not a Business Day any principal or
interest that would otherwise be payable on such date shall be
paid on the next succeeding Business Day, and no interest shall
accrue for the intervening period.  For these purposes, "Business
Day" shall mean any day, other than a Saturday or a Sunday, that
is neither a legal holiday nor a day on which banking
institutions are authorized or required by law or regulation to
close in the City of New York or Chicago.


Cost of Commissions

      Pursuant to agreements between the Issuer, Mobil Oil
Corporation and Mobil Corporation, the cost of commissions
ultimately is to be borne by Mobil Corporation, and the Issuer
effectively will receive net proceeds of 100%.

Redemption

     The Issuer shall have the right to redeem the Offered Notes
in whole or in part on any Interest Payment Date on or after the
Initial Redemption Date.  Notice of redemption shall be given not
less than 30 nor more than 60 days prior to the date fixed for
redemption. If any date fixed for redemption falls on a day that
is not a Business Day as defined above, the redemption date shall
be the next succeeding Business Day.