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                                                                    EXHIBIT 15.1
 
   
                   INDEPENDENT ACCOUNTANTS' AWARENESS LETTER
    
 
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
 
Dear Sirs:
 
   
     We are aware that Union Texas Petroleum Holdings, Inc. has incorporated by
reference our report dated April 26, 1994 (issued pursuant to the provisions of
Statement on Auditing Standards No. 71) in the Prospectus constituting part of
its Registration Statement on Form S-3 to be filed on or about May 24, 1994. We
are also aware of our responsibilities under the Securities Act of 1933.
    
 
Yours very truly,
 
PRICE WATERHOUSE
    
Houston, Texas
May 24, 1994