<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
consolidated balance sheet of Phillips Petroleum Company as of
September 30, 1997, and the related consolidated statement of income for
the nine-month period ended September 30, 1997, and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               SEP-30-1997
<CASH>                                             899
<SECURITIES>                                         0
<RECEIVABLES>                                    1,800
<ALLOWANCES>                                        20
<INVENTORY>                                        565
<CURRENT-ASSETS>                                 3,486
<PP&E>                                          20,839
<DEPRECIATION>                                  11,291
<TOTAL-ASSETS>                                  14,216
<CURRENT-LIABILITIES>                            2,823
<BONDS>                                          2,507
<PREFERRED-MANDATORY>                              650
<PREFERRED>                                          0
<COMMON>                                           689
<OTHER-SE>                                       4,032
<TOTAL-LIABILITY-AND-EQUITY>                    14,216
<SALES>                                         11,497
<TOTAL-REVENUES>                                11,652
<CGS>                                            9,349<F1>
<TOTAL-COSTS>                                    9,550<F2>
<OTHER-EXPENSES>                                    62<F3>
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 153
<INCOME-PRETAX>                                  1,501
<INCOME-TAX>                                       751
<INCOME-CONTINUING>                                750
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       750
<EPS-PRIMARY>                                     2.85
<EPS-DILUTED>                                     2.85
<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 trusts.
</FN>