Exhibit 99.1



          UNION TEXAS PETROLEUM
              (LETTERHEAD)

NEWS RELEASE

Contact:  Carol L. Cox
           (713) 968-2714

     UNION TEXAS PETROLEUM NAMES JOHN WHITMIRE
              AS NEW CHAIRMAN AND CEO

    Phillips Petroleum Executive Vice President
      To Join Independent Oil and Gas Company

     Houston, December 15, 1995 -- The Board of Directors
of Union Texas Petroleum Holdings, Inc. (NYSE: UTH)
today announced that Mr. John L. Whitmire, currently
Executive Vice President - Exploration and Production of
Phillips Petroleum Co., has been elected Chairman and
Chief Executive Officer of Union Texas, effective
January 9, 1996.

     Mr. Whitmire has announced his retirement from
Phillips, effective January 8, 1996.  Mr. Whitmire will
succeed Mr. A. Clark Johnson, who is retiring at age 65.
Mr. Johnson has served as Chairman and Chief Executive
Officer of Union Texas for 11 years.

     Mr. Whitmire, age 55, has over 30 years experience
in the international oil and gas industry.  During his
career with Phillips, he has held senior management
positions in the company's worldwide exploration and
production operations and worked overseas at Phillips'
operations in the United Kingdom and Norway.  Mr.
Whitmire is currently a member of Phillips' Board of
Directors.

     "I am excited about this opportunity to lead Union
Texas Petroleum," said Mr. Whitmire.  "Union Texas has
earned a fine reputation in the international petroleum
industry, and I am delighted to be associated with the
company.  Union Texas is known for its excellent
strengths, including its strong financial position,
interests in world class-sized ventures in the U.K. North
Sea and Indonesia, a profitable petrochemical business
in Louisiana and talented, dedicated employees.  I look
forward to working with the Union Texas organization as
we seek to continue to build value for shareholders."

     Speaking for the Union Texas Board of Directors,
Director Michael W. Michelson, who served as Chairman of
the Board's succession committee, said, "We are delighted
to have John join Union Texas.  He has a proven track
record in the international petroleum industry and brings
a wealth of knowledge and experience to Union Texas."

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     Mr. Michelson said, "We all appreciate the
significant contributions that Clark Johnson has made to
Union Texas during his 27 years of service.  Under
Clark's leadership, Union Texas achieved numerous
important milestones, including the company's public
stock offerings, expansion of its international oil and
gas operations and the continued strong performance from
its petrochemical business."

     Mr. Whitmire began his career with Phillips in 1964
as a Production Engineer following his graduation from New
Mexico State University with a bachelor's degree in
mechanical engineering.  At Phillips, Mr. Whitmire worked
in a number of operations areas, including drilling,
reservoir engineering, production and liquefied natural
gas (LNG) processing.  Mr. Whitmire's career at Phillips
included overseas assignments in the United Kingdom and
Norway, where he managed the company's Norway oil and gas
operations.  Mr. Whitmire has also overseen Phillips'
exploration activities in North America, including the Gulf
of Mexico.  In his current position as Executive Vice
President-Exploration and Production which he assumed in
January 1994, he is responsible for Phillips' worldwide
exploration and production operations, acquisitions, and
corporate planning.

     Mr. Whitmire serves on the boards of the American
Petroleum Institute and the Mechanical Engineering Academy
of New Mexico State University.  He and his wife Virginia
have three children.

     Headquartered in Houston, Union Texas Petroleum is one
of the largest independent oil and gas companies based in
the United States.  The company explores for and produces
oil and gas in the U.K. North Sea, Indonesia and Pakistan
and also has exploration programs in several areas,
including Alaska.  Union Texas' petrochemical interests
are situated in Louisiana, including an ethylene plant near
Baton Rouge.  The company's principal offices outside of
Houston are located in London; Jakarta, Indonesia; Karachi,
Pakistan; and Geismar, Louisiana.  Union Texas, which has
approximately 1,000 employees worldwide, will celebrate its
100th anniversary in January 1996.

                                # # #

Note to Editors and Reporters: More biographical information
and a photograph of Mr. Whitmire are available by contacting
Carol Cox at Union Texas Petroleum at (713) 968-2714.