SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    Form 10-C

                 Report by Issuer of Securities Quoted on NASDAQ

                          Interdealer Quotation System

                  Filed pursuant to Section 13 or 15(d) of the

                 Securities Exchange Act of 1934 and Rule 13a-17

                              or 15d-17 thereunder

                       PETROLEUM HEAT AND POWER CO., INC.
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                 (Exact name of issuer as specified in charter)

                      2187 Atlantic St., Stamford, CT 06902
                    (Address of principal executive offices)

         Issuer's telephone number, including area code    203-325-5400

                   I.  CHANGE IN NUMBER OF SHARES OUTSTANDING

Indicate any change (increase or decrease) of 5% or more in the number of shares
outstanding:

1.  Title of security   Class A Common Stock
                      ----------------------------------------------------------
2.  Number of shares outstanding before the change   19,011,787
                                                  ------------------------------
3.  Number of shares outstanding after the change    21,501,413
                                                  ------------------------------
4.  Effective date of change                          12/7/94
                             ---------------------------------------------------
5.  Method of change:

     Specify  method (such as merger, acquisition, exchange, distribution, stock
split, reverse split, acquisition of stock for treasury, etc.)
               Acquisition
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     Give brief  description of  transaction     Issuance of  Shares of  Class A
                                              ----------------------------------
Common Stock in connection with acquisition of Star Gas Corporation
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                          II.  CHANGE IN NAME OF ISSUER

1.  Name prior to change 
                         -------------------------------------------------------
2.  Name after change 
                      ----------------------------------------------------------
3.  Effective date of charter amendment changing name 
                                                      --------------------------
4.  Date of shareholder approval of change, if required 
                                                        ------------------------


Date:  December 14, 1994           George Leibowitz            
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                                   George Leibowitz
                                   Senior Vice President