Exhibit 12.

                               MOBIL CORPORATION
               COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                 (In millions)

 
 

                                                                              Nine
                                                                              Months
                                                                              Ended
                                         Year Ended December 31,              Sept.30,
                              ----------------------------------------------  --------
                                1993      1994      1995      1996      1997      1998
                              ------    ------    ------    ------    ------    ------
                                                              
Income Before Change in                                                       
  Accounting Principle ....   $2,084    $1,759    $2,376    $2,964    $3,272    $1,856
Add:                                                                          
Income taxes ..............    1,931     1,919     2,015     3,147     3,093     1,252
Portion of rents                                                              
  representative of                                                           
  interest factor .........      339       340       368       376       346       260
Interest and debt                                                             
  discount expense ........      529(a)    461       467       455       428       350
Earnings less (greater)                                                       
  than distributions from                                                     
  equity affiliates........      265       (40)      (51)      153       (59)       98
                              ------    ------    ------    ------    ------    ------
                                                                              
Income as Adjusted ........   $5,148    $4,439    $5,175    $7,095    $7,080    $3,816
                              ======    ======    ======    ======    ======    ======
Fixed Charges:                                                                
Interest and debt                                                             
  discount expense ........   $  529(a) $  461    $  467    $  455    $  428    $  350
Capitalized interest ......       42        37        47        78       101        52
Portion of rents                                                              
  representative of                                                           
  interest factor .........      339       340       368       376       346       260
                              ------    ------    ------    ------    ------    ------
Total Fixed Charges .......   $  910    $  838    $  882    $  909    $  875    $  662
                              ======    ======    ======    ======    ======    ======
Ratio of Earnings to                                                          
  Fixed Charges ...........      5.7(a)    5.3       5.9       7.8       8.1       5.8
                              ======    ======    ======    ======    ======    ======
 


Note:

  For the years ended December 31, 1993, 1994, 1995, 1996 and 1997 and the nine
months ended September 30, 1998, Fixed Charges exclude $31 million, $37 million,
$28 million, $24 million, $29 million and $19 million, respectively, of interest
expense attributable to debt issued by the Mobil Oil Corporation Employee Stock
Ownership Plan Trust and guaranteed by Mobil.


(a) Excludes the favorable effect of $205 million of interest benefits from the
      resolution of prior-period tax issues.