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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549-1004
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 10, 1995
MOBIL CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-7555 13-2850309
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
3225 Gallows Road
Fairfax, Virginia 22037-0001
Telephone: (703) 846-3000
(Address of principal executive offices)
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Item 5. Other Events
The Registrant hereby incorporates by reference herein the
information set forth in its News Release dated August 10, 1995, a
copy of which is annexed hereto as exhibit 99.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits.
99. Mobil Corporation News Release dated August 10,
1995 which announced the settlement of several issues with the
Internal Revenue Service.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
REGISTRANT MOBIL CORPORATION
By /S/GORDON G. GARNEY
NAME AND TITLE Gordon G. Garney, Senior Assistant Secretary
DATE August 10, 1995
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EXHIBIT INDEX
EXHIBIT SUBMISSION MEDIA
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99. Mobil Corporation, Electronic
News Release dated
August 10, 1995
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MOBIL, IRS SETTLE ARAMCO PRICING ISSUE
FAIRFAX, VA., Aug. 10 -- Mobil Corporation today announced that it
has settled several issues with the Internal Revenue Service, most of
which were involved in litigation in the United States Tax Court. Included
among the settled issues is the so-called "Aramco Advantage" issue. The
IRS had asserted that Mobil should have charged its affiliates higher
prices than the prices mandated by Saudi Arabia for crude that Mobil
bought from the Arabian American Oil Company ("Aramco") during the
1979-1981 period.
Mobil also noted:
- The settlement will have no effect on earnings, as the
federal tax on the agreed-to increase in taxable income was
covered by excess foreign tax credits.
- The adjustment to pricing agreed to as a result of the
negotiated settlement is substantially less than originally
claimed by the IRS.
- There will be some adjustments to income taxes in states
that base their taxes on the federal taxable income. This
will not impact earnings as reserves are adequate to cover
this.
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08/10/95
