Exhibit 12.

                                MOBIL CORPORATION
                COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                  (In millions)

                                                                        Six
                                                                        Months
                                                                        Ended
                                       Year Ended December 31,          June 30,
                            ------------------------------------------  --------
                              1993      1994    1995     1996     1997     1998
                            ------    ------  ------   ------   ------   ------

Income Before Change in
  Accounting Principle ...  $2,084    $1,759  $2,376   $2,964   $3,272   $1,347
Add:
Income taxes .............   1,931     1,919   2,015    3,147    3,093      921
Portion of rents
  representative of
  interest factor ........     339       340     368      376      346      173
Interest and debt
  discount expense .......     529(a)    461     467      455      428      123
Earnings less (greater)
  than distributions from
  equity affiliates.......     265       (40)    (51)     153      (59)     128
                            ------    ------   ------  ------   ------   ------

Income as Adjusted .......  $5,148    $4,439  $5,175   $7,095   $7,080   $2,692
                            ======    ======  ======   ======   ======   ======
Fixed Charges:
Interest and debt
  discount expense .......  $  529(a) $  461  $  467   $  455   $  428   $  123
Capitalized interest .....      42        37      47       78      101       34
Portion of rents
  representative of
  interest factor ........     339       340     368      376      346      173
                            ------    ------  ------   ------   ------   ------
Total Fixed Charges ......  $  910    $  838  $  882   $  909   $  875   $  330
                            ======    ======  ======   ======   ======   ======
Ratio of Earnings to
  Fixed Charges ..........     5.7(a)    5.3     5.9      7.8      8.1      8.2
                            ======    ======  ======   ======   ======   ======


Note:

  For the years ended December 31, 1993,  1994,  1995, 1996 and 1997 and the six
months ended June 30, 1998, Fixed Charges exclude $31 million,  $37 million, $28
million,  $24 million,  $29 million and $12 million,  respectively,  of interest
expense  attributable to debt issued by the Mobil Oil Corporation Employee Stock
Ownership Plan Trust and guaranteed by Mobil.


(a) Excludes the favorable effect of $205 million of interest  benefits from the
resolution of prior-period tax issues.





MOBIL                                   - 22 -