EXHIBIT 12
                                       
                                AMOCO COMPANY
                                       
               STATEMENT SETTING FORTH COMPUTATION OF RATIO OF
                          EARNINGS TO FIXED CHARGES
                     (millions of dollars, except ratios)

                                                                      
                             Six                                      
                            Months                                    
                            Ended            Year Ended December 31,
                                     
                           June 30,  
                             1996      1995     1994    1993    1992    1991
Determination of Income:                                              
Consolidated earnings                                                 
 before income taxes                                                  
 and minority interest...    $1,520  $2,425   $2,688  $2,427  $1,823  $2,093
Fixed charges expensed by                                             
 consolidated companies..       123     233      140     193     238     231
Adjustments for certain                                               
 companies accounted for                                              
  by the equity method...        33      10        7       9      18      12
Adjusted earnings plus                                                
 fixed charges...........    $1,676  $2,668   $2,835  $2,629  $2,079  $2,336
                                                                      
Determination of Fixed Charges:                                       
Consolidated interest on                                              
 indebtedness (including                                              
 interest capitalized)...    $   80  $  152   $  127  $  162  $  219  $  216
Consolidated rental                                                   
 expense representative                                               
 of an interest factor...        39      71        7      31      20      22
Adjustments for certain                                               
 companies accounted for                                              
 by the equity method....         5       6        5       6      12      17
Total fixed charges......    $  124  $  229   $  139  $  199  $  251  $  255
                                                                      
Ratio of earnings to                                                  
 fixed charges...........      13.5*   11.6*    20.4*   13.2     8.3     9.2
                                                                      


*Based  on public debt obligations. Including debt with affiliates,  the
ratio  would  have been 5.2 as of June 30, 1996, 4.4 as of December  31,
1995, and 13.0 as of December 31, 1994.