<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
consolidated balance sheet of Phillips Petroleum Company as of June 30,
1997, and the related consolidated statement of income for the six-month
period ended June 30, 1997, and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<CASH>                                             774
<SECURITIES>                                         0
<RECEIVABLES>                                    1,782
<ALLOWANCES>                                        20
<INVENTORY>                                        521
<CURRENT-ASSETS>                                 3,390
<PP&E>                                          20,316
<DEPRECIATION>                                  11,037
<TOTAL-ASSETS>                                  13,823
<CURRENT-LIABILITIES>                            2,591
<BONDS>                                          2,507
<PREFERRED-MANDATORY>                              650
<PREFERRED>                                          0
<COMMON>                                           649
<OTHER-SE>                                       3,937
<TOTAL-LIABILITY-AND-EQUITY>                    13,823
<SALES>                                          7,653
<TOTAL-REVENUES>                                 7,757
<CGS>                                            6,222<F1>
<TOTAL-COSTS>                                    6,358<F2>
<OTHER-EXPENSES>                                    41<F3>
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 103
<INCOME-PRETAX>                                  1,035
<INCOME-TAX>                                       501
<INCOME-CONTINUING>                                534
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       534
<EPS-PRIMARY>                                     2.03
<EPS-DILUTED>                                     2.03
<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.
</FN>