PETROLEUM HEAT & POWER CO INC
10-C, 1996-01-24
MISCELLANEOUS RETAIL
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                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-176

                       or 15d-17 thereunder

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

               2187 Atlantic St., Stamford, CT 06902
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             (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   21,501,413 
    (as of 2/2/95)                                ----------------

3.  Number of shares outstanding after the change    22,855,077
                                                 -----------------

4.  Effective date of change                as of     2/9/95
                            --------------------------------------

5.  Method of change:

     Specify method (such as merger, acquisition, exchange,
distribution, stock split, reverse split, acquisition of stock for
treasury, etc.):   Original issuance of 2,875,000 shares followed
                  ------------------------------------------------
by a private purchase of 1,521,316 shares.
- ------------------------------------------------------------------

     Give brief description of transaction:  Reflects the issuance
                                            ----------------------
of 2,875,000 shares in a public offering and the subsequent 
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repurchase of 1,521,316 shares.
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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:  January 24, 1996            James Bottiglieri            
     ------------------            -----------------------------
                                   James Bottiglieri
                                   Vice President and Controller 




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