SEC File No 33-18130

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549-1004

FORM 11-K

ANNUAL REPORT

Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
[Fee Required]

For the Fiscal Year Ended January 31, 1995

EMPLOYEES SAVINGS PLAN OF
MOBIL OIL CORPORATION

(Full title of the plan)

MOBIL CORPORATION
3225 Gallows Road, Fairfax, Virginia
22037-0001
Telephone: (703) 846-3000

(Name of issuer of the securities held pursuant to the plan and
the address of its principal executive office)

13-2850309

(IRS Employer Identification No.)
EMPLOYEES SAVINGS PLAN OF MOBIL OIL CORPORATION
FORM 11-K
FOR THE FISCAL YEAR ENDED JANUARY 31, 1995

TABLE OF CONTENTS

Page

Report of Ernst & Young LLP, Independent Auditors . . . . . . 1
Statements of Net Assets Available for Benefits . . . . . . . 2
Statements of Changes in Net Assets Available for Benefits . . 3
Notes to Plan Financial Statements . . . . . . . . . . . . . . 4
Supplemental Information:
Schedule of Assets Held for Investment Purposes . . . . . . 13
Schedule of Reportable Transactions . . . . . . . . . . . . 14
Signature . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Exhibit Index . . . . . . . . . . . . . . . . . . . . . . . . 16
Exhibit 23 - Consent of Ernst & Young LLP, Independent Auditors 17

A schedule of party-in-interest transactions has not been presented
because there were no such prohibited transactions.

REPORT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS

Board of Directors
MOBIL OIL CORPORATION

We have audited the accompanying statements of net assets available for
benefits of the Employees Savings Plan of Mobil Oil Corporation (the
Plan) as of January 31, 1994 and 1995, and the related statements of
changes in net assets available for benefits for the years then ended.
These financial statements are the responsibility of the Plan's
management. Our responsibility is to express an opinion on these
financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe
that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present
fairly, in all material respects, the net assets available for benefits
of the Plan at January 31, 1994 and 1995, and the changes in its net
assets available for benefits for the years then ended, in conformity
with generally accepted accounting principles.

Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The accompanying supplemental
schedules of assets held for investment purposes as of January 31, 1995
and reportable transactions for the year ended January 31, 1995, are
presented for purposes of complying with the Department of Labor's Rules
and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974, and are not a required part of
the basic financial statements. The supplemental schedules have been
subjected to the auditing procedures applied in our audit of the 1995
financial statements and, in our opinion, are fairly stated in all
material respects in relation to the 1995 basic financial statements
taken as a whole.

Ernst & Young LLP

Fairfax, Virginia
March 28, 1995
1

EMPLOYEES SAVINGS PLAN OF MOBIL OIL CORPORATION
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

At January 31,
1994 1995
(000's) (000's)
__________ __________

Investments, at current value (Note 7) . . . . . . . . . $3,990,788 $4,130,643
Employer-corporation contribution receivable (Note 3) . 121,539 163,609
Dividends and interest receivable . . . . . . . . . . . 25,786 24,297
Contributions and loan principal receivable . . . . . . 13,983 14,558
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . 20,940 9,585
__________ __________
$4,173,036 $4,342,692
__________ __________

Less:
Accrued interest payable (Note 3) . . . . . . . . . . 25,084 23,598
Long-term debt (Note 3) . . . . . . . . . . . . . . . 656,500 628,300
__________ __________
681,584 651,898
__________ __________
Net assets available for benefits at end of year . . . . $3,491,452 $3,690,794
========== ==========

See notes to Plan financial statements

EMPLOYEES SAVINGS PLAN OF MOBIL OIL CORPORATION
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

Years Ended January 31,
1994 1995
(000's) (000's)
___________ ___________

Contributions:
Savings Account (Notes 3 and 5)
Employee contributions . . . . . . . . . . . . . . . . . . . . $ 50,474 $ 46,416
Employer-corporation contributions . . . . . . . . . . . . . . . 74,500 71,517
401(k) Account (Note 5)
Employee contributions . . . . . . . . . . . . . . . . . . . . 60,413 60,157
Employer-corporation contributions . . . . . . . . . . . . . . . 24,238 23,261
----------- -----------
Total contributions . . . . . . . . . . . . . . . . . . . . . . 209,625 201,351
----------- -----------
Net investment income:
Dividend income
Mobil Common Stock . . . . . . . . . . . . . . . . . . . . . . . 63,592 63,841
Mobil ESOP Convertible Preferred Stock (Note 3) . . . . . . . . 59,009 57,651
Interest Income . . . . . . . . . . . . . . . . . . . . . . . . . 14,312 28,951
Realized and unrealized gains and losses on investments (Note 8) . 474,265 174,356
Interest expense on long-term debt (Note 3) . . . . . . . . . . . (61,875) (57,979)
----------- -----------
Net investment income . . . . . . . . . . . . . . . . . . . . . 549,303 266,820
----------- -----------
Distributions to participants for withdrawals (Note 5) . . . . . . . . (248,476) (268,829)
----------- -----------
Net increase in net assets available for benefits . . . . . . . 510,452 199,342
Net assets available for benefits:
Beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . 2,981,000 3,491,452
----------- -----------
End of year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,491,452 $3,690,794
=========== ===========

Certain prior year amounts have been restated to conform with the current year
presentation.

See notes to Plan financial statements

EMPLOYEES SAVINGS PLAN OF MOBIL OIL CORPORATION
NOTES TO PLAN FINANCIAL STATEMENTS
YEAR ENDED JANUARY 31, 1995

Note 1. Description of the Plan

Eligibility - Regular employees of Mobil Corporation and its
participating affiliates (Mobil) generally become eligible to
participate in the Employees Savings Plan of Mobil Oil Corporation
(the Plan) on the first of the month after completion of one year of
service.

Contributions - The Plan was composed of three parts prior to May 2,
1994:

Part A - Employees could make after-tax contributions up to 10%
of their base pay (plus certain make-up contributions) to Part A
of the Plan. Prior to February 1, 1990, Mobil also contributed
4% of base pay to Part A (5% for employees with 20 years of
accredited service who were on the payroll prior to January 1,
1969). Both employee and Mobil contributions were subject to tax
law limitations.

Part B - Employees could make pre-tax contributions up to 15% of
their eligible compensation, subject to certain tax law
limitations. On February 1, 1990, Mobil began to contribute 2%
(3% for pre-January 1, 1969 employees) of the employees' base
pay. Employees could elect to receive a portion or all of this
Mobil contribution in cash. Total employee and Mobil
contributions to Part B were limited to 15% of eligible
compensation, subject to certain tax law limitations. Part B was
the 401(k) portion of the Plan.

Part C - Beginning February 1, 1990, Mobil began to contribute
sufficient funds to provide an allocation of Mobil preferred
stock equal to 4% of participants' base pay to Part C of the
Plan, which was the Employee Stock Ownership portion of the Plan
(ESOP).

Effective May 2, 1994, the Plan was restructured into the following
two parts:

Savings Account - Formerly known as Parts A and C. Employees can
make after-tax contributions to the Savings Account of the Plan,
subject to certain tax law limitations. Effective February 1,
1994, the maximum permitted employee contribution to the Savings
Account was increased from 10% to 15% of base pay (plus certain
make-up contributions). Mobil continues to contribute sufficient
funds to provide an allocation of Mobil preferred stock equal to
4% of participants' base pay to the ESOP portion of the Savings
Account.

401(k) Account - Formerly known as Part B, the 401(k) Account
includes employee pre-tax contributions, if any, and Mobil's pre-
tax contributions of 2% of base pay (3% for pre-January 1, 1969
employees). An employee can elect to receive a portion or all of
the company contribution in cash. The combined company and
employee contributions to this account cannot exceed 15% of the
employee's eligible compensation. Federal regulations governing
the 401(k) Account limit some employees to contributions
totalling less than 15% combined employee and Mobil 401(k)
contribution.

EMPLOYEES SAVINGS PLAN OF MOBIL OIL CORPORATION
NOTES TO PLAN FINANCIAL STATEMENTS
YEAR ENDED JANUARY 31, 1995

Note 1. Description of the Plan - continued

Vesting - Mobil contributions to the Savings Account and related
investment income become vested upon completion of five years of
employment. A year of employment for vesting purposes is a calendar
year in which the employee receives credit for 1,000 hours.
Employee contributions to the Savings Account, all contributions to
the 401(k) Account, and related investment income are immediately
vested.

Contributions and benefits under the Plan are described in the
Summary Plan Description, which is furnished to each participant.

Note 2. Major Accounting Policies

Security valuation - Prior to May 2, 1994, Mobil Common Stock was
valued at the last reported sales price for the day (based on the New
York Stock Exchange), on the day of valuation or, lacking any sales
on that day, at the most recent bid quotation. Effective May 2,
1994, Mobil Common Stock is valued at the average sales price for the
day (based on the New York Stock Exchange), on the day of valuation
or, lacking any sales on that day, at the most recent bid quotation.
United States Savings Bonds Series E and EE are stated at redemption
value.

Mobil's Series B ESOP Convertible Preferred Stock (Mobil ESOP
Convertible Preferred Stock) units (1/100th of a share) are stated at
current value, which is the higher of the liquidation value or
current market value. Liquidation value is the minimum price
guaranteed by Mobil, $77.75 per unit. Prior to May 2, 1994, current
market value was defined as the last reported sales price for Mobil
Common Stock as defined in the previous paragraph. Effective May 2,
1994, current market value is defined as the average sales price for
Mobil Common Stock as defined in the previous paragraph.

Long-Term Fixed Income Funds are stated at current value, which
approximates fair value, representing the original cost, plus
interest (based upon the contractually-agreed annual rates) reduced
by benefit payments made to participants since each fund's inception.

Jennison Equity Fund (formerly known as Trustee's Equity) and the
Short-Term Fixed Income Funds are represented by units valued by
Merrill Lynch Trust Company, the trustee of the Plan, and Bankers
Trust on a daily basis. Dividend, interest, capital gains and
losses, and management and administration fees are reflected in the
net value of each unit.

In January 1994, the Merrill Lynch Floating Rate Long-Term Fixed
Income Fund (LTFI) investment option was added to the Plan. In
addition, Plan investments in the Fidelity Managed Income Portfolio
were merged into the Merrill Lynch Floating Rate Long-Term Fixed
Income Fund effective January 1, 1994. This fund is stated at
current value, which approximates fair value, representing the
original cost, plus interest (based upon a diversified mix of
contractually agreed fixed or variable interest rates), less
transfers out or withdrawals. The Floating Rate LTFI seeks to
maintain a stable $1 per share while the fund's yield fluctuates
daily.

In April of 1994, U.S. Savings Bonds were eliminated as an
investment option in the Plan. The Bonds were liquidated and
proceeds were invested in the Merrill Lynch Institutional Fund.

EMPLOYEES SAVINGS PLAN OF MOBIL OIL CORPORATION
NOTES TO PLAN FINANCIAL STATEMENTS
YEAR ENDED JANUARY 31, 1995

Note 2. Major Accounting Policies - continued

Effective May 2, 1994, the PIMCO Low Duration Bond Fund and the
Short Term Fixed Income Fund were liquidated and transferred into the
Franklin U.S. Government Securities Fund and the Merrill Lynch
Institutional Fund, respectively.

The Franklin U.S. Government Securities Fund is a bond mutual
fund which invests primarily in Government National Mortgage
Association (GNMA) securities and U.S. Government securities with
principal and interest payments backed by the United States
Government. The fund is stated at current market value and is
managed by Franklin Custodian Funds, Incorporated.

The Merrill Lynch Institutional Fund is a money market fund which
is stated at current value plus interest, less transfers out or
withdrawals. The Merrill Lynch Institutional Fund seeks to maintain
a constant $1 per share with a yield that fluctuates daily.

Effective May 11, 1994, the following investment choices were
added to the Plan: Merrill Lynch Global Allocation Fund, AIM Charter
Fund, and Merrill Lynch Equity Index Fund.

The Merrill Lynch Global Allocation Fund is a global asset
allocation mutual fund that invests in a diversified portfolio of
U.S. and foreign securities, including stocks, bonds and money market
instruments. The fund is stated at current market value. The
investment adviser for the Global Allocation Fund is Merrill Lynch
Asset Management, a subsidiary of Merrill Lynch & Co., Inc.

The AIM Charter Fund is a mutual fund stated at current market
value. AIM Charter is a growth and income mutual fund. It not only
invests for capital appreciation, but also seeks current income to
enhance returns and help protect investors in falling markets. AIM
Charter's investments include common stocks, convertibles, and fixed
income securities. The fund is managed by AIM Equity Funds, Inc.

The Merrill Lynch Equity Index Trust is managed by Merrill Lynch
Asset Management. This fund's objective is to replicate the total
return of the Standard & Poor's 500 Stock Index. This Fund is stated
at fair market value.

Investment Income - Dividends from Mobil Common Stock are accrued
on the ex-dividend date. Four quarterly dividends are included for
the fiscal years ended January 31, 1994 and January 31, 1995.

The minimum annual dividend on a unit of Mobil ESOP Convertible
Preferred Stock accrues on a monthly basis, and is set at $6.00 per
year. If the aggregate declared dividends on a share of Mobil Common
Stock for the six months before a semi-annual dividend on the Mobil
ESOP Convertible Preferred Stock exceed $3.00 per share, the semi-
annual dividend on a unit of the Mobil ESOP Convertible Preferred
Stock will be at least the same as such aggregate dividends on a
share of Mobil Common Stock.

EMPLOYEES SAVINGS PLAN OF MOBIL OIL CORPORATION
NOTES TO PLAN FINANCIAL STATEMENTS
YEAR ENDED JANUARY 31, 1995

Note 2. Major Accounting Policies - continued

All other earnings are stated on an accrual basis.

Investment income from all sources is stated net of investment
management, trustee, audit and other third party fees, as applicable.

Security transactions are recorded on a trade date basis.
Realized gains and losses are based on average cost.

Note 3. Employee Stock Ownership Plan (ESOP)

In November 1989, Mobil modified the Plan to incorporate an ESOP.
The ESOP trust, supported by Mobil guarantees, privately placed
$800,000,000 of floating interest rate notes due November 22, 2004,
and used the proceeds to purchase 102,894 shares of Mobil ESOP
Convertible Preferred Stock at a price equal to liquidation value, or
$7,775 per share. Each share is convertible into 100 shares of Mobil
Common Stock and is entitled to 100 votes.

On February 27, 1990, the ESOP trust issued and Mobil guaranteed
$800,000,000 of 9.17% Sinking Fund Debentures due February 29, 2000,
pursuant to Rule 415 under the Securities Act of 1933. The ESOP
trust used the proceeds to retire the floating interest rate notes
due November 22, 2004. Principal and interest payments on the
debentures are due semi-annually. Future fiscal year annual
principal maturities are as follows: $80,600,000 in 1996; $92,100,000
in 1997; $103,600,000 in 1998; 115,800,000 in 1999; and $135,600,000
in 2000. Only assets held in the ESOP trust are subject to recourse
by creditors of the ESOP trust.

On February 28, 1994 and August 31, 1994, pursuant to the same
Rule, the ESOP trust issued and Mobil guaranteed $25,000,000 of
6.220% and $15,000,000 of 7.550% Medium-Term Notes, respectively,
both due February 28, 2002. The ESOP trust used the proceeds of each
of these issues to pay parts of scheduled sinking fund payments on
the 9.17% Sinking Fund Debentures. Interest payments on the Medium-
Term Notes are due semi-annually. The Medium-Term Notes are callable
in whole or in part from February 28, 1999 until maturity. On
February 28, 1995, pursuant to Rule 415 under the Securities Act of
1933, the ESOP trust issued and Mobil guaranteed $30,000,000 of
8.225% Medium-Term Notes due February 28, 2004.

The ESOP trust uses dividends on the Mobil ESOP Convertible
Preferred Stock, together with contributions from Mobil, to repay the
ESOP debt (principal and interest). The amount of debt repaid each
Plan year results in the release of shares of Mobil ESOP Convertible
Preferred Stock to be available to Plan participants. Mobil
contributes semi-annually sufficient funds to ensure that each
participant's account is credited with Mobil ESOP Convertible
Preferred Stock having a value equal to 4% of the participant's base
pay for the preceding six months.

Plan participants earned 721,129 and 693,592 pay-based units of
Mobil ESOP Convertible Preferred Stock, plus credit for fractional
units, for fiscal years ended January 31, 1994 and January 31, 1995,
respectively. The aggregate fair value of these units, including
fractional units, were $57,050,626 in 1994 and $55,696,874 in 1995.
In addition, Plan participants earn units of Mobil

EMPLOYEES SAVINGS PLAN OF MOBIL OIL CORPORATION
NOTES TO PLAN FINANCIAL STATEMENTS
YEAR ENDED JANUARY 31, 1995

Note 3. Employee Stock Ownership Plan - continued

ESOP Convertible Preferred Stock equal to the value of the preferred
dividends on units allocated to participant accounts. The number of
units of Mobil ESOP Convertible Preferred Stock earned by dividends
were 187,275 with a fair value of $14,582,930 in 1994, and 234,945
with a fair value of $18,743,165 in 1995.

As of January 31, 1994 and January 31, 1995, the Plan held
6,922,596 and 5,994,059 units, respectively, of Mobil ESOP
Convertible Preferred Stock, which have yet to be earned by
employees. The current values of these unearned units were
$560,730,276 in 1994 and $517,736,846 in 1995. Net assets available
for benefits at January 31, 1994 and 1995, included unrealized gains
on the unallocated units of $22,498,437 and $51,698,759,
respectively.

Financial statements for the ESOP are included in the financial
statements of the Plan. Summarized financial data for the ESOP are
as follows:

1994 1995
(000's) (000's)
________ ________

At January 31:
Current value of Mobil ESOP Convertible Preferred Stock
(shares outstanding 1994 - 97,754; 1995 - 95,502) . . . . . $791,807 $824,899
Employer-corporation contribution receivable . . . . . . . . 121,539 163,609
Dividends receivable . . . . . . . . . . . . . . . . . . . . 24,394 23,826
Less:
Accrued interest payable . . . . . . . . . . . . . . . . . 25,084 23,598
Long-term debt . . . . . . . . . . . . . . . . . . . . . . 656,500 628,300
-------- --------
Net assets available for benefits . . . . . . . . . . . . . . $256,156 $360,436
======== ========
Year Ended January 31:
Employer-corporation contributions . . . . . . . . . . . . . $ 74,500 $ 71,517
Dividend income . . . . . . . . . . . . . . . . . . . . . . . 59,009 57,651
Realized and unrealized gains on investments . . . . . . . . 31,912 51,474
Less:
Interest expense . . . . . . . . . . . . . . . . . . . . . 61,875 57,979
Distributions to participants . . . . . . . . . . . . . . . 18,009 18,383
-------- --------
Net increase in net assets available for benefits . . . . . . $ 85,537 $104,280
======== ========

Note 4. Administration of Plan Assets

The Plan is administered by Mobil Oil Corporation acting through
fiduciaries designated by the Board of Directors of Mobil Oil to
serve at its discretion.

Effective May 1, 1994, Merrill Lynch, Pierce, Fenner and Smith
Inc. (Merrill Lynch) succeeded Mobil Oil as recordkeeper for the
Plan. An affiliate of Merrill Lynch, Merrill Lynch Trust Company,
assumed all the trustee duties previously performed by Bankers Trust
Company, New York, with the exception of the ESOP portion of the
Plan. Bankers Trust Company remains as the trustee of the ESOP
portion of the Plan.

EMPLOYEES SAVINGS PLAN OF MOBIL OIL CORPORATION
NOTES TO PLAN FINANCIAL STATEMENTS
YEAR ENDED JANUARY 31, 1995

Note 4. Administration of Plan Assets - continued

In its capacity as trustee, Merrill Lynch Trust Company
purchases the various investments, collects income and holds shares
for safekeeping. As trustee it holds legal title to and retains
custody of all securities and investments of the Plan other than the
Mobil ESOP Convertible Preferred Stock. Ownership of Mobil ESOP
Convertible Preferred Stock is evidenced by the ESOP trustee's
accounting for the activity of such stock on a notional basis.

Jennison Associates Capital Corporation serves as investment
manager of the Jennison Equity Fund, which consists primarily of a
portfolio of domestic equities and up to 25% in securities of foreign
companies traded in U.S. dollars on U.S. stock exchanges.

The class year Long-Term Fixed Income Funds are invested with
Metropolitan Life Insurance Company, Prudential Insurance Company,
John Hancock Mutual Life Insurance Company, Continental Assurance
Company, Connecticut General Life Insurance Company, American
International Life Assurance Company of New York, and Allstate Life
Insurance Company pursuant to contracts that generally provide for
interest at stated rates.

Merrill Lynch Asset Management Inc., a Merrill Lynch affiliate,
serves as the investment manager for the Merrill Lynch Floating Rate
Long-Term Fixed Income Fund, which invests primarily in investment
contracts that are issued by high quality insurance companies, banks
and other financial institutions and which provide interest at fixed
or variable rates.

Bankers Trust is the trustee of the ESOP; AIM Equity Funds, Inc.
is the investment manager for AIM Charter Fund; Franklin Custodian
Funds, Inc. is the fund manager for the Franklin U.S. Government
Securities Fund and Merrill Lynch Asset Management is the investment
manager for the Merrill Lynch Institutional Fund, Merrill Lynch
Equity Index Fund, and the Merrill Lynch Global Allocation Fund.

Note 5. Contributions and Withdrawals

Mobil contributions and distributions to participants are net of
forfeitures of $1,438,621 and $890,070 for the years ended January
31, 1994 and 1995, respectively.

Note 6. Participant Loans

Loan interest rates are reviewed quarterly and determined for new
loans, if appropriate, based on the "Bank Prime Loan" rate for the
last business day of the second preceding calendar month, as
published in Federal Reserve Statistical Release H.15.

EMPLOYEES SAVINGS PLAN OF MOBIL OIL CORPORATION
NOTES TO PLAN FINANCIAL STATEMENTS
YEAR ENDED JANUARY 31, 1995

Note 7. Plan Investments

Current
Number of Cost Value
Shares or Units (000's) (000's)
_______________ __________ __________

At January 31, 1994
Mobil Common Stock . . . . . . . . . . . . . . . . . . 18,900,308* $ 892,588 $1,530,925
Mobil ESOP Convertible Preferred Stock . . . . . . . . 97,754 760,037 791,807
United States Savings Bonds Series E . . . . . . . . . 32,496 609 2,337
United States Savings Bonds Series EE . . . . . . . . . 362,408 12,550 15,830
Trustee's Equity Fund . . . . . . . . . . . . . . . . . 13,839,340 261,077 411,859
Trustee's Short-Term Fixed Income Fund . . . . . . . . 10,394,702 164,418 191,470
Bond Fund . . . . . . . . . . . . . . . . . . . . . . . 3,821,225 39,365 39,091
** Long-Term Fixed Income Fund - Restricted Option 9 . . . 10,386,178 105,402 176,981
** Long-Term Fixed Income Fund - Restricted Option 10. . . 9,597,436 97,998 152,983
** Long-Term Fixed Income Fund - Restricted Option 11. . . 9,238,675 93,609 129,157
** Long-Term Fixed Income Fund - Restricted Option 12. . . 8,671,574 88,085 112,123
** Long-Term Fixed Income Fund - Restricted Option 13. . . 14,720,340 148,308 170,167
Merrill Lynch Floating Rate Long-Term Fixed
Income Fund . . . . . . . . . . . . . . . . . . . . . 182,834,966 182,835 182,835
Participant Loans . . . . . . . . . . . . . . . . . . . - 83,223 83,223
---------- ----------
$2,930,104 $3,990,788
========== ==========

At January 31, 1995
Mobil Common Stock . . . . . . . . . . . . . . . . . . 18,638,510* $ 945,813 $1,609,901
Mobil ESOP Convertible Preferred Stock . . . . . . . . 95,502 742,528 824,899
Jennison Equity Fund (formerly Trustee's Equity Fund). 14,458,912 288,847 414,099
Merrill Lynch Institutional Fund. . . . . . . . . . . . 177,141,918 177,142 177,142
Merrill Lynch Equity Index Trust. . . . . . . . . . . . 226,397 6,561 6,785
AIM Charter Fund. . . . . . . . . . . . . . . . . . . . 1,267,169 10,579 10,150
Merrill Lynch Global Allocation Fund. . . . . . . . . . 3,356,647 41,902 39,924
Franklin U.S. Government Securities Fund. . . . . . . . 4,887,483 28,767 28,233
** Long-Term Fixed Income Fund - Restricted Option 10. . . 8,969,047 91,576 156,689
** Long-Term Fixed Income Fund - Restricted Option 11. . . 8,368,633 84,822 126,952
** Long-Term Fixed Income Fund - Restricted Option 12. . . 7,968,518 80,950 112,037
** Long-Term Fixed Income Fund - Restricted Option 13. . . 12,814,807 129,152 158,775
Merrill Lynch Floating Rate Long-Term Fixed
Income Fund . . . . . . . . . . . . . . . . . . . . . 375,120,042 375,120 375,120
Participant Loans . . . . . . . . . . . . . . . . . . . - 89,937 89,937
---------- ----------
$3,093,696 $4,130,643
========== ==========

* Represents 4.75% of the 398,215,822 shares outstanding at January 31, 1994
and 4.71% of the 395,830,183 shares outstanding at January 31, 1995.
** Additional investments in these options are not permitted.

The contractually agreed annual effective interest yields are 9.15% through
December 31, 1994, for Restricted Option 9; 9.6% through December 31, 1995,
for Restricted Option 10; 8.54% through July 5, 1995, for Restricted Option
11; 8.69% through June 30, 1996, for Restricted Option 12, and 7.18% through
January 2, 1997, for Restricted Option 13.

Approximately 71% of the Plan's net assets at January 31, 1994 and 1995
are investments in or receivables from Mobil.

EMPLOYEES SAVINGS PLAN OF MOBIL OIL CORPORATION
NOTES TO PLAN FINANCIAL STATEMENTS
YEAR ENDED JANUARY 31, 1995

Note 8. Realized and Unrealized Gains and Losses on Investments

The net realized and unrealized gains and (losses) on investments were as
follows:

1994 1995
(000's) (000's)
-------- ---------

Mobil Common Stock . . . . . . . . . . . . . . . . . . . . . . $320,322 $ 79,063
Mobil ESOP Convertible Preferred Stock . . . . . . . . . . . . 31,912 51,474
United States Savings Bonds Series E and EE . . . . . . . . . 1,051 -
Jennison Equity Fund . . . . . . . . . . . . . . . . . . . . . 48,550 (11,820)
Trustee's Short-Term Fixed Income Fund . . . . . . . . . . . . 5,530 (513)
Bond Fund. . . . . . . . . . . . . . . . . . . . . . . . . . . 243 (744)
Merrill Lynch Institutional Fund . . . . . . . . . . . . . . . - -
Merrill Lynch Equity Index Trust . . . . . . . . . . . . . . . - 283
AIM Charter Fund . . . . . . . . . . . . . . . . . . . . . . . - (455)
Merrill Lynch Global Allocation Fund . . . . . . . . . . . . . - (2,276)
Franklin U.S. Government Securities Fund . . . . . . . . . . . - (761)
Long-Term Fixed Income Fund - Restricted Option 8 . . . . . . 5,618 -
Long-Term Fixed Income Fund - Restricted Option 9. . . . . . . 15,347 14,282
Long-Term Fixed Income Fund - Restricted Option 10 . . . . . . 13,765 14,270
Long-Term Fixed Income Fund - Restricted Option 11 . . . . . . 10,602 10,556
Long-Term Fixed Income Fund - Restricted Option 12 . . . . . . 9,228 9,399
Long-Term Fixed Income Fund - Restricted Option 13 . . . . . . 12,028 11,575
Merrill Lynch Floating Rate Long-Term Fixed Income Fund . . . 69 23
-------- --------
$474,265 $174,356
======== ========

Note 9. Tax Status

In 1990, the Internal Revenue Service (IRS) determined that the Plan, as
amended to include the ESOP, continued to be a qualified plan under
Section 401(a) of the Internal Revenue Code (the Code), that the ESOP
portion qualifies as an employee stock ownership plan under section
4975(e)(7) of the Code, and that the Trust thereunder (the Trust) is
exempt from Federal income tax under Section 501(a) of the Code.

As a result of the continued qualification by the IRS, Mobil's
contributions to the Plan continue to be deductible for Federal income
tax purposes in the taxable year for which the contribution is made, the
Trust's income continues to be exempt from tax, and neither such
contributions nor income accruing to a participant's account are included
in a participant's gross income for Federal income tax purposes until
such amounts are distributed to the participant or the participant's
beneficiary.

On December 12, 1994, Mobil submitted an application for
determination with the IRS that the Plan, as amended and restated
effective May 2, 1994, continues to be a qualified plan under Section
401(a) of the Code and that the ESOP portion of the Plan continues to
qualify as an Employee Stock Ownership Plan described in Section
4975(e)(7) of the Code.

EMPLOYEES SAVINGS PLAN OF MOBIL OIL CORPORATION
NOTES TO PLAN FINANCIAL STATEMENTS
YEAR ENDED JANUARY 31, 1995

Note 10. Plan Termination

While Mobil has not expressed an intent to terminate the Plan, it may do
so at any time, subject to the provisions of the Employee Retirement
Income Security Act (ERISA). In the event the Plan is terminated, all
participants will become fully vested in their accounts and the net
assets of the Plan shall be distributed among the participants in
accordance with ERISA.

SUPPLEMENTAL INFORMATION

EMPLOYEES SAVINGS PLAN OF MOBIL OIL CORPORATION
ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES

At January 31, 1995

Description of Investment, CURRENT
Identity of Issue, Borrower, Including Maturity Date, Rate of COST VALUE
Lessor or Similar Party Interest, Par or Maturity Value (000's) (000's)
- - -----------------------------------------------------------------------------------------------------

Corporate Stocks:
*Mobil Common Stock 18,638,510 shares $ 945,813 $1,609,901
*Mobil ESOP Convertible
Preferred Stock 95,502 shares 742,528 824,899

Mutual Funds:
Franklin Custodian Funds, Inc. Franklin
U.S. Government Securities Fund 4,887,483 shares 28,767 28,233
*Merrill Lynch Institutional Fund 177,141,918 shares 177,142 177,142
AIM Charter Fund 1,267,169 shares 10,579 10,150
*Merrill Lynch Global Allocation Fund 3,356,647 shares 41,902 39,924

Trust Funds:
Jennison Associates Capital Corporation
Jennison Equity Fund 14,458,912 units 288,847 414,099
*Merrill Lynch Equity Index Trust 226,397 shares 6,561 6,785
*Merrill Lynch Floating Rate
Long-Term Fixed Income Fund 375,120,042 shares 375,120 375,120

Contracts with Insurance Companies:
MetLife Long-Term Fixed Income Fund 8,969,047 units with contractually 91,576 156,689
Restricted Option 10 agreed effective interest yield of
9.6% through December 31, 1995

Prudential & John Hancock Long-Term 8,368,633 units with 84,822 126,952
Fixed Income Fund Restricted Option 11 contractually agreed annual
effective interest yield of
8.54% through July 5, 1995

Prudential, Connecticut General, & 7,968,518 units with 80,950 112,037
Continental Assurance Long-Term contractually agreed annual
Fixed Income Fund Restricted Option 12 effective interest yield of
8.69% through June 30, 1996

Allstate, American Int'l, Connecticut 12,814,807 units with 129,152 158,775
General, & John Hancock Long-Term contractually agreed annual
Fixed Income Fund Restricted Option 13 effective interest yield of
7.18% through January 2, 1997

Participant Loans 6% to 8.5% interest rate range 89,937 89,937
---------- ----------
$3,093,696 $4,130,643

* Party-in-interest as defined by ERISA

EMPLOYEES SAVINGS PLAN OF MOBIL OIL CORPORATION
ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS

Year Ended January 31, 1995

Identity of Purchase Selling Cost of Net Gain or
Party Price** Price** Assets Loss
Involved * Description of Asset (000's) (000's) (000's) (000's)
- - ---------- -------------------- -------- ------- ------- -----------

Mobil Purchase of 2,613,144 shares $213,848 - - -
of Mobil Common Stock ***

Mobil Sale or in-kind withdrawal of - $213,934 $160,623 $53,311
2,874,942 shares of Mobil
Common Stock ***

Merrill Lynch Purchase of 266,883,479 shares 266,883 - - -
Merrill Lynch Institutional
Fund***

Merrill Lynch Sale of 89,741,561 shares of - 89,741 89,741 -
Merrill Lynch Institutional
Fund***

Merrill Lynch Purchase of 260,125,647 shares 260,126 - - -
of Merrill Lynch Floating Rate
LTFI***

Merrill Lynch Sales or in-kind withdrawal of - 67,841 67,841 -
67,840,571 shares of Merrill
Lynch Floating Rate LTFI***

Metropolitan Sales of 10,386,178 units of - 191,262 105,402 85,860
Life Insurance Long-Term Fixed Income Fund
Company Restricted Option 9

* Category (iii) - Series of transactions in excess of 5% of plan assets.
There were no category (i) or (ii) reportable transactions
for fiscal year ended January 31, 1995.
** Also represents current value at date of transaction.
*** Party-in-interest as defined by ERISA

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934,
Mobil Oil Corporation, the administrator of the Employees Savings Plan
of Mobil Oil Corporation, has duly caused this Annual Report to be
signed on its behalf by the undersigned hereunto duly authorized.

EMPLOYEES SAVINGS PLAN OF MOBIL OIL CORPORATION

MOBIL OIL CORPORATION

/S/GORDON G. GARNEY

BY GORDON G. GARNEY
NAME AND TITLE Gordon G. Garney, Senior Assistant
Secretary
DATE May 9, 1995

EXHIBIT INDEX

EXHIBIT SUBMISSION MEDIA
___________ ______________________

23. Consent of Ernst & Young LLP, Electronic
Independent Auditors,
dated May 3, 1995.