Exhibit 99.4

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


                         UNION TEXAS PETROLEUM ANNOUNCES
                            STOCK REPURCHASE PROGRAM


         Houston,  October  25,  1996 -- Union Texas  Petroleum  Holdings,  Inc.
(NYSE:  UTH) today  announced  that its Board of Directors  has  authorized  the
repurchase of up to 2 million shares of the company's  common stock.  This stock
repurchase  program is in addition to a stock buyback program that was initiated
in 1994.
         Union  Texas  recently  reported  that it had  repurchased  a total  of
1,046,700  shares of its common stock during the first nine months of 1996 under
the 1994 stock  repurchase  program;  there are 398,764  shares  remaining to be
repurchased under the 1994 program.
         "We believe our common  stock  continues  to be  undervalued  given our
potential to grow our business.  Union Texas'  excellent  leverage to oil prices
continues to generate free cash flow,  making stock  repurchases a valuable tool
for building  shareholder  value," said  Chairman  and CEO John  Whitmire.  "The
repurchase of our shares  represents an attractive  investment  opportunity  for
Union Texas."
         The  repurchased  stock will be used for  general  corporate  purposes,
including fulfilling employee benefit program obligations. The stock repurchases
generally
                                     -more-







will be made in the open market,  Union Texas said. The Board will  periodically
review the stock repurchase program, and continuation of the program will depend
upon the company's financial condition,  stock price, economic factors and other
considerations.
          One  of  the  largest  independent  producers  located  in  the  U.S.,
Houston-based Union Texas Petroleum Holdings,  Inc. (NYSE: UTH) explores for and
produces oil and gas overseas  primarily in the U.K.  North Sea,  Indonesia  and
other strategic  areas. The company has  petrochemical  operations in Louisiana.
Union Texas celebrated its 100th anniversary in January 1996.
          This news  release  contains  forward-looking  statements  within  the
meaning  of  the  Securities  Litigation  Reform  Act  that  involve  risks  and
uncertainties,   including  price  volatility,   development,   operational  and
implementation  risks,  and  other  factors  described  from time to time in the
company's  publicly  available SEC reports,  which could cause actual results to
differ materially.
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