<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION (IN THOUSANDS EXCEPT PER
SHARE DATA) EXTRACTED FROM PETROLEUM HEAT AND POWER CO., INC. AND SUBSIDIARIES
FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 1996 AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                          25,223
<SECURITIES>                                         0
<RECEIVABLES>                                   59,099
<ALLOWANCES>                                     1,970
<INVENTORY>                                     14,888
<CURRENT-ASSETS>                               108,542
<PP&E>                                          70,173
<DEPRECIATION>                                  40,900
<TOTAL-ASSETS>                                 251,374
<CURRENT-LIABILITIES>                           83,388
<BONDS>                                        291,643
<PREFERRED-MANDATORY>                            8,333
<PREFERRED>                                          0
<COMMON>                                         2,543
<OTHER-SE>                                   (143,278)
<TOTAL-LIABILITY-AND-EQUITY>                   251,374
<SALES>                                        392,558
<TOTAL-REVENUES>                               422,060
<CGS>                                          236,121
<TOTAL-COSTS>                                  293,064
<OTHER-EXPENSES>                               125,973
<LOSS-PROVISION>                                 1,295
<INTEREST-EXPENSE>                              26,007
<INCOME-PRETAX>                               (20,546)
<INCOME-TAX>                                       350
<INCOME-CONTINUING>                           (20,896)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                  6,414
<CHANGES>                                            0
<NET-INCOME>                                  (27,704)
<EPS-PRIMARY>                                   (1.18)
<EPS-DILUTED>                                   (1.18)