Interim Results

BURMAH CASTROL PLC
8 September 1999

             BURMAH CASTROL PLC: 1999 INTERIM RESULTS
                  'A powerful start to the year'
                                 
Highlights                                     
                                 
*   Operating profit* up 9 per cent, with Castrol Consumer
    performing particularly strongly.
    
*   Earnings per share* up 13 per cent.
    
*   Interim dividend of 15.4 pence per share: up 10 per cent.

                               1H 1999*     Change on 1H 1998*
                                         as reported    at constant
                                                        currencies
--------------------------------------------------------------------
Operating profit                 £135m         +9%           +7%
Profit before tax                £126m         +5%           +3%
Profit after tax and minorities   £70m         +6%           +4%
Earnings per share               34.8p        +13%          +11%

--------------------------------------------------------------------
* Before discontinued businesses and exceptional items.

Chief Executive, Tim Stevenson, comments:

'We have made a powerful start to the year, despite challenging
conditions in certain key markets.  We have also been actively
pursuing our strategy of investment in our principal businesses
and the divestment of non-core activities, and have made a good
start with the implementation of our business efficiency
programmes.  The outlook is encouraging, with trading conditions
improving.'
------------------------------------------------------------------

Enquiries:

James Alexander                    0171 499 9533 on 8 September
Corporate Affairs Director          and 01793 452006 thereafter

Rachel Hirst, Hogarth                             0171 357 9477

A full copy of the Interim Results announcement is available on
the Burmah Castrol Web-site: www.burmah-castrol.com.

Summary
                                 
Burmah Castrol achieved excellent growth in the first half of
1999, despite challenging conditions in certain key markets.
Before discontinued businesses and exceptional items, operating
profit rose nine per cent, to £135 million, and earnings per share
increased 13 per cent to 34.8 pence, this higher increase
reflecting the initial effects of the return of approximately £280
million of capital to shareholders in May 1999.  For the first
time in three years, currency translation had a marginally
positive effect on results; turnover and operating profit from
continuing businesses benefited by some £20 million and £2 million
respectively.

The outlook is encouraging as market conditions are improving.
The effect of the return of capital will be to enhance earnings
per share by some six per cent in 1999.

Burmah Castrol is also actively pursuing its programme to improve
shareholder value through investment in its principal businesses
and the divestment of non-core businesses.  So far this year
Burmah Castrol has made seven acquisitions, set up new operations
in China and Eastern Europe, and increased its holdings in Foseco
India and Sericol India.  Brand investment has been maintained at
a high level.  The Irish Fuels operation, and Timber Treatment and
Aluminium divisions, have been sold.  Further opportunities for
complementary acquisitions, geographic expansion and the sale of
peripheral businesses are under review.

Business Results
*  Castrol Consumer made an excellent start, with profits
   reaching £85 million, up 24 per cent on the first half of
   1998. Volumes were up three per cent reflecting further
   market share gains; margins improved to 15 per cent as a
   result of lower raw material costs and tight expense control.
   Europe continues to face challenging conditions, but achieved
   improved profits and margins.  North America recorded strong
   results:  volumes and margins improved, the company holds the
   leading brand position in the 'Do-it-yourself' market, and is
   now successfully targeting specific opportunities in the 'Do-
   it-for-me' quick-lube sector.  Asia Pacific is performing
   much better with good results from Australia, Thailand,
   Malaysia and Japan,  whilst India continues to make good
   progress.

   Following the reorganisation of Castrol in 1998, there have
   been some business and expense reallocations amongst the
   different Castrol business streams.  These have reduced
   Industrial's and Commercial's reported half year profits by
   some £1.5 million in each case, and increased principally
   Consumer accordingly.

*  Castrol Industrial's profit decline was due to difficult
   market conditions in Europe, which offset satisfactory
   results from North America, improving performances in East
   Asia and encouraging progress in India.  'Chemical Management
   Services' contracts continue to be won in all regions and
   will underpin future profit and margin growth.

*  Castrol Marine increased profits, with improved results being
   achieved in Asia Pacific.  Europe also performed well.
   Castrol Commercial achieved growth in Europe and Asia
   Pacific, including India; North America's volumes should
   benefit from a successful rebranding exercise, to convert the
   Dryden name to Castrol.

*  Foseco Foundry's profits fell as a result of the decline in
   the jobbing foundry and steel casting markets in Europe and,
   to a lesser extent, in North America.  Margins were however
   maintained at a high level, Asia Pacific is showing strong
   growth and restructuring in Europe and India will bring
   benefits.

*  Construction made a strong start, with profits up
   significantly and margins improving to almost 12 per cent.
   There were continuing good results from the Middle East,
   conditions are improving in Asia Pacific and the UK has been
   returned to profitability following major restructuring.

*  Printing did well to maintain profits, as the continuing
   strength of sterling impacted UK export growth and its
   European and US operations faced less robust markets.
   Margins remain excellent, at over 15 per cent.

*  Releasants achieved good growth, notably in the USA and Asia
   Pacific, and margins improved to over 11 per cent.  Steel
   declined as steel production in Europe and the USA fell
   sharply.  In Specialities, Mining achieved much improved
   results despite weak global markets and Investment Casting
   improved profit significantly, but Ceramic Welding recorded a
   loss as its markets deteriorated sharply.

Other Businesses
The  remaining two Fuels networks' profits declined  slightly,  as
did  Energy Investments' due to lower gas prices in Pakistan.  The
intention remains to dispose of these businesses when satisfactory
prices can be obtained.

Financial Position
As  a result of the return of capital to shareholders, net gearing
rose  to  85 per cent (74 per cent on a net borrowing only basis),
but  interest cover was a strong 14 times at the half year and  is
expected  to  be around 10 times at the full year  on  a  proforma
basis.   There was a net cash outflow, before management of liquid
resources and financing, of £44 million, principally as  a  result
of  a series of strategic acquisitions amounting to £42 million in
total in the first half of the year.

Exceptional Items
A net exceptional loss of some £2 million arose following the sale
of  the  Irish  Fuels, Timber Treatment and Aluminium  businesses.
Exceptional costs of some £15 million have been incurred  to  date
in  respect of business efficiency programmes.  Following a recent
Brazilian Supreme Court judgement, a provision of £14 million  has
been made for turnover-based taxes and associated charges relating
mainly to prior years.

Value Creation
Burmah  Castrol  announced, in March,  its  intention  to  improve
further  the value creation potential of each principal  business.
The  aim  is to maintain margins in those businesses that  already
achieve  high  returns, improve margins where these are  currently
inadequate,  significantly reduce indirect  costs  and  accelerate
market share growth.

In Europe, Castrol Consumer has commenced a series of projects, to
further  differentiate itself from the competition and grow  share
while, at the same time, substantially reducing the cost base. Pan-
European  marketing  initiatives are  being  developed,  including
partnerships  with  key  customers where early  successes  include
Conoco  and Carrefour; others are close to completion.  Plans  are
also  in  place  to  achieve  substantial  reductions  in  capital
employed as well as cost savings, through purchasing, supply chain
and back office restructuring.

Also  in  Europe, the Foundry, Steel, Releasants and  Construction
businesses have been engaged in similar programmes, involving  new
marketing and product development projects allied to supply  chain
rationalisation.    In   India,   extensive   restructuring    and
rationalisation  of  the  Foundry and Steel  businesses  are  well
underway.   In  addition, following a major review  of  the  Steel
business, it has been decided that there is much that can be  done
to  create value through further, major restructuring and that  it
is currently in shareholders' interests to retain this business.

Since  March,  additional  restructuring opportunities  in  Burmah
Castrol's  other businesses and regions have been  identified  and
they are developing their own plans.  Further information will  be
provided   as  the  programmes  progress.   At  this  stage,   the
cumulative benefits expected are now estimated to be of the  order
of  £30  million in 2000, £45 million in 2001 rising to  some  £60
million  per  annum  in  2002 and higher thereafter.   Exceptional
costs of the order of £35 million in 1999, £30 million in 2000 and
£85  million  across the following two years are  expected  to  be
incurred.   The total net cash cost of the programme is likely  to
be  just  over  £100 million, of which some £35  million  will  be
incurred  in  1999.  The difference between the total  exceptional
costs  and the net cash costs expected reflects reductions in  net
working  capital  and  asset write downs.  Restructuring  on  this
scale will regrettably result in significant job losses. This year
there  will  be  some  450 job losses; over the  next  few  years,
numbers employed could fall by over a further 1000 people.   Every
effort  will  be  made  to  reduce the  impact  through  voluntary
redundancy and natural wastage.

Dividends
An interim cash dividend of 15.4 pence per share is to be paid,  a
10  per cent increase on the 1998 interim dividend of 14 pence per
share.   The company intends to maintain its progressive  dividend
policy.

Year 2000
Burmah  Castrol has had a dedicated team, which reports  regularly
to  the Board, working to ensure that planning covers all business
continuity issues, including working with customers and suppliers.
Burmah  Castrol  is currently in the final stages  of  contingency
planning  and is confident that all units will achieve 'Year  2000
readiness'.  During 1999 some £5 million of costs will be incurred
in this respect.

Year End Trading Statement
Burmah Castrol has decided that an annual trading statement should
be published on a regular basis, two months ahead of its full year
announcement.  The first such statement will therefore  be  issued
in December this year.

Outlook
The Chief Executive, Tim Stevenson, comments:

'We  have made a powerful start to the year.  The outlook for  the
second  half is favourable.  Consumer is continuing to grow  share
and  should  maintain  satisfactory margins despite  rising  input
costs.   Construction and Releasants are achieving a good rate  of
growth.   Industrial  is starting to perform  more  strongly,  and
Marine  and  Commercial are making steady  progress.   Foundry  is
seeing  some improvement in its markets but, in Printing, the  key
graphics segment remains subdued.
There  is  much work still to be done.  We are confident  we  will
bring  through to shareholders the full value of our strong global
businesses.'

GROUP PROFIT & LOSS ACCOUNT
                             Half year to 30 June 1999
                      Continuing   Discontinued  Exceptional     Total
Notes                 operations     operations items(note 3)
                       £ million      £ million    £ million £ million
     -----------------------------------------------------------------
     Turnover            1,423.7           22.8                1,446.5
     -----------------------------------------------------------------
     Operating profit      134.3            1.4        (28.9)    106.8
     Share of
     operating profit
     in associates           1.0                                   1.0
     -----------------------------------------------------------------
     Total operating
     profit                135.3            1.4        (28.9)    107.8
     Profit on sale
     of businesses                                       3.4       3.4
     Provision for loss
     on sale of businesses                              (5.3)     (5.3)
     (Loss)/profit on sale
     of fixed assets                                    (1.3)     (1.3)
     -----------------------------------------------------------------
     Profit before
     interest              135.3            1.4        (32.1)    104.6
4    Interest               (9.8)                                 (9.8)
     -----------------------------------------------------------------
     Profit before
     taxation              125.5            1.4        (32.1)     94.8
5    Taxation              (44.9)          (0.1)         4.3     (40.7)
     -----------------------------------------------------------------
     Profit after
     taxation               80.6            1.3        (27.8)    54.1
     Minority interests    (11.1)                               (11.1)
     -----------------------------------------------------------------
     Profit attributable
     to shareholders        69.5            1.3        (27.8)    43.0
     -----------------------------------------------------------------

6    Earnings per
     ordinary share         34.8p           0.6p       (13.9)p   21.5p
     -----------------------------------------------------------------
6    Diluted earnings
     per ordinary share     34.7p           0.6p       (13.9)p   21.4p
     -----------------------------------------------------------------
     Interest cover
     (times)                  14                                    11
     -----------------------------------------------------------------
     Taxation as a
     percentage of
     profit before
     taxation                 -----35.5%-----                    42.9%
     -----------------------------------------------------------------

GROUP PROFIT & LOSS ACCOUNT
                             Half year to 30 June 1998
                      Continuing   Discontinued  Exceptional     Total
Notes                  operations    operations items(note 3)
                       £ million      £ million    £ million £ million
     -----------------------------------------------------------------
     Turnover            1,384.8           33.4                1,418.2
     -----------------------------------------------------------------
     Operating profit      122.9            2.5        (10.4)    115.0
     Share of
     operating profit
     in associates           1.0            1.5                    2.5
     -----------------------------------------------------------------
     Total operating
     profit                123.9            4.0        (10.4)    117.5
     Profit on sale
     of businesses                                      40.2      40.2
     Provision for loss
     on sale of businesses
     (Loss)/profit on sale
     of fixed assets                                     0.2       0.2
     -----------------------------------------------------------------
     Profit before
     interest              123.9            4.0         30.0     157.9
4    Interest               (4.3)          (0.1)                  (4.4)
     -----------------------------------------------------------------
     Profit before
     taxation              119.6            3.9         30.0     153.5
5    Taxation              (44.8)          (0.3)        (2.0)    (47.1)
     -----------------------------------------------------------------
     Profit after
     taxation               74.8            3.6         28.0     106.4
     Minority interests     (9.5)                                 (9.5)
     -----------------------------------------------------------------
     Profit attributable
     to shareholders        65.3            3.6         28.0      96.9
     -----------------------------------------------------------------

6    Earnings per
     ordinary share         30.7p           1.7p        13.2p     45.6p
     -----------------------------------------------------------------
6    Diluted earnings
     per ordinary share     30.4p           1.7p        13.2p     45.3p
     -----------------------------------------------------------------
     Interest cover
     (times)                  29                                    36
     -----------------------------------------------------------------
     Taxation as a
     percentage of
     profit before
     taxation                 -----36.5%-----                     30.7%
     -----------------------------------------------------------------

GROUP PROFIT & LOSS ACCOUNT
                                  Year to 31 December 1998
                      Continuing   Discontinued  Exceptional     Total
Notes                 operations     operations items(note 3)
                       £ million      £ million    £ million £ million
     -----------------------------------------------------------------
     Turnover            2,774.5           62.6                2,837.1
     -----------------------------------------------------------------
     Operating profit      250.2            5.4        (55.1)    200.5
     Share of
     operating profit
     in associates           1.6            1.6                    3.2
     -----------------------------------------------------------------
     Total operating
     profit                251.8            7.0        (55.1)    203.7
     Profit on sale
     of businesses                                      42.7      42.7
     Provision for loss
     on sale of businesses                              (1.3)     (1.3)
     (Loss)/profit on sale
     of fixed assets                                    (0.6)     (0.6)
     -----------------------------------------------------------------
     Profit before
     interest              251.8            7.0        (14.3)    244.5
4    Interest               (9.3)          (0.2)                  (9.5)
     -----------------------------------------------------------------
     Profit before
     taxation              242.5            6.8        (14.3)    235.0
5    Taxation              (89.0)          (0.7)         2.9     (86.8)
     -----------------------------------------------------------------
     Profit after
     taxation              153.5            6.1        (11.4)    148.2
     Minority interests    (19.6)                                (19.6)
     -----------------------------------------------------------------
     Profit attributable
     to shareholders       133.9            6.1        (11.4)    128.6
     -----------------------------------------------------------------

6    Earnings per
     ordinary share         63.2p           2.9p        (5.4)p    60.7p
     -----------------------------------------------------------------
6    Diluted earnings
     per ordinary share     62.9p           2.9p        (5.4)p    60.4p
     -----------------------------------------------------------------
     Interest cover
     (times)                  27                                    26
     -----------------------------------------------------------------
     Taxation as a
     percentage of
     profit before
     taxation                 -----36.0%-----                     36.9%
     -----------------------------------------------------------------

SUMMARY GROUP BALANCE SHEET

                                    30.6.99    30.6.98    31.12.98
Notes                             £ million   £ million  £ million

     Fixed assets                       876        814        865
     -------------------------------------------------------------

     Current assets
      Stocks                            281        276        266
      Debtors                           698        632        642
      Investments                       131        180        159
      Cash at bank and in hand           87         89         96
     -------------------------------------------------------------
                                      1,197      1,177      1,163
     Creditors - amounts falling
     due within one year               (779)      (741)      (781)
     -------------------------------------------------------------
     Net current assets                 418        436        382
     -------------------------------------------------------------
     Total assets less current
     liabilities                      1,294      1,250      1,247

     Creditors - amounts falling due
     after more than one year          (537)      (240)      (261)
     Provisions for liabilities
     and charges                       (147)      (136)      (135)
     -------------------------------------------------------------
     Net assets                         610        874        851
     -------------------------------------------------------------

     Capital and reserves
7    Called up share capital             75        213        213
     Reserves                           465        600        575
     -------------------------------------------------------------
     Shareholders' funds                540        813        788
     Minority interests                  70         61         63
     -------------------------------------------------------------
                                        610        874        851
     -------------------------------------------------------------

                                          %          %          %

     Net gearing:
     Net borrowings                      74          7          9
     Obligations recognised
     per FRS 5                           11          9         10
     -------------------------------------------------------------
                                         85         16         19
     -------------------------------------------------------------

                                  £ million  £ million  £ million
     Gearing calculated on:
8    Net borrowings                     403         56         72
     Obligations recognised
     per FRS 5                           58         71         77
     -------------------------------------------------------------
                                        461        127        149


SUMMARY GROUP CASH FLOW STATEMENT

                              Half year to  Half year to    Year to
                                   30.6.99       30.6.98   31.12.98
Notes                            £ million     £ million  £ million

9    Net cash inflow from
     operating activities              125            89        273
     Dividends received
     from associates                     1             1          1
     Returns on investment
     and servicing of finance          (11)          (12)       (28)
     Taxation                          (45)          (57)      (102)
     Capital expenditure               (40)          (49)       (99)
     Purchase of investments           (16)          (13)       (45)
     Payments for acquisitions         (42)           (9)       (16)
     Cash received from disposals       13            80         82
     Equity dividends paid             (29)          (56)       (86)
     ----------------------------------------------------------------
     Cash (outflow)/inflow
     before management of liquid
     resources and financing           (44)          (26)       (20)

     Management of liquid
     resources                          15            (6)        26
     Return of capital                (278)
     Financing                         280            (2)       (32)
     ----------------------------------------------------------------
     (Decrease) in cash in
     the period                        (27)          (34)       (26)
     ----------------------------------------------------------------

     Reconciliation of net cash
     flow to movement in net debt

8    Net debt at 1 January            (149)         (117)      (117)
     (Decrease) in cash in the period  (27)          (34)       (26)
     (Increase)/decrease in debt      (280)            6         18
     (Decrease)/increase in liquid
     resources                         (15)            6        (26)
     Other movements in net debt        10            12          2
     ----------------------------------------------------------------
8    Net debt at end of the period    (461)         (127)      (149)
     ----------------------------------------------------------------

     Memorandum : cash flow from
     ordinary operations
     Net cash flow before management
     of liquid resources
     and financing                     (44)          (26)       (20)
     Add back/(deduct):
     Payments for acquisitions          42             9         16
     Cash received from disposals      (13)          (80)       (82)
     ----------------------------------------------------------------
     Cash outflow from ordinary
     operations                        (15)          (97)       (86)
     ----------------------------------------------------------------

SEGMENTAL ANALYSIS

                                             Operating profit before
                                    Turnover       exceptional items
------------------------------------------------------------------------
                     Half      Half   Year to      Half      Half   Year to
                  year to   year to             year to   year to
                  30.6.99   30.6.98  31.12.98   30.6.99   30.6.98  31.12.98
                £ million £ million £ million £ million £ million £ million


BY MANAGEMENT AREA

Consumer
(note (i))          555.5    533.6   1,077.7      85.3      68.8     144.9
Commercial           88.4     79.5     160.3       3.5       5.2      11.5
Marine               66.5     67.7     138.5       7.9       7.5      12.8
Industrial          229.5    221.1     439.9      12.4      15.1      30.0
Central costs                                     (5.9)     (5.3)    (11.8)
----------------------------------------------------------------------------
Castrol             939.9    901.9   1,816.4     103.2      91.3     187.4
----------------------------------------------------------------------------

Foundry             116.9    124.3     238.1      13.3      14.0      27.3
Construction         52.1     52.3     105.8       6.1       3.9       9.5
Printing Inks        61.9     59.4     118.4       9.7       9.7      18.1
Releasants           29.7     25.9      52.7       3.5       2.6       5.1
Steel                31.2     35.6      67.7       1.4       2.0       3.9
Other businesses     73.8     71.5     143.2       4.8       5.8      12.5
Central costs                                     (2.4)     (2.3)     (4.7)
----------------------------------------------------------------------------
Chemicals           365.6    369.0     725.9      36.4      35.7      71.7
----------------------------------------------------------------------------

Fuels               114.9    110.0     225.6       0.9       1.1       2.0
Energy
Investments           3.3      3.9       6.6       2.0       2.7       4.0
Central
Management                                        (7.2)     (6.9)    (13.3)

----------------------------------------------------------------------------
Continuing        1,423.7  1,384.8   2,774.5     135.3     123.9     251.8
Discontinued         22.8     33.4      62.6       1.4       4.0       7.0
----------------------------------------------------------------------------
                  1,446.5  1,418.2   2,837.1     136.7     127.9     258.8
----------------------------------------------------------------------------

BY GEOGRAPHICAL AREA

United
Kingdom
(note (ii))         129.9    136.8     271.1     (31.6)    (31.1)    (66.4)
Europe (excluding
UK) (note (i))      374.4    359.4     748.5      49.9      49.1     101.7
Africa               33.8     36.3      68.7       3.9       4.0       8.3
The Americas        450.3    444.8     855.0      59.7      56.6     111.9
Asia                256.8    237.2     486.9      45.0      35.4      76.1
Australasia         178.5    170.3     344.3       8.4       9.9      20.2
----------------------------------------------------------------------------
Continuing        1,423.7  1,384.8   2,774.5     135.3     123.9     251.8
Discontinued         22.8     33.4      62.6      1.4       4.0        7.0
----------------------------------------------------------------------------
                  1,446.5  1,418.2   2,837.1     136.7     127.9     258.8
----------------------------------------------------------------------------

(i)  Consumer includes share of operating profit in associated
     undertakings of £1 million (1998:  June £1 million;
     December £1.6 million). These amounts are included in Europe
     in the geographical analysis.
(ii) UK operating profit is after deducting central management,
     marketing and research expenditure.

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES

                              Half year to  Half year to    Year to
                                   30.6.99       30.6.98   31.12.98
                                 £ million     £ million  £ million
     --------------------------------------------------------------

     Profit for the period
     attributable to
     shareholders                       43            97        128
     Currency translation
     differences                        (3)          (20)        (7)
     --------------------------------------------------------------
     Total recognised gains
     and losses for the period          40            77        121
     --------------------------------------------------------------

NOTES

1    Accounting policies
     
     Except as noted below, the interim financial information has
     been prepared on the basis of the accounting policies set out
     in the group's statutory accounts for the year ended 31
     December 1998.  The adoption of FRS 12 (Provisions,
     Contingent Liabilities and Contingent Assets) has not
     necessitated any material change to the accounts.
     Certain advertising costs are apportioned on a time basis,
     based on projected annual estimates.
     
2    Exchange rates
     
     The main exchange rates used in these accounts are:

                              Half year to  Half year to    Year to
                                   30.6.99       30.6.98   31.12.98
     --------------------------------------------------------------

     U.S. Dollar        - average     1.61          1.65       1.66
                        - closing     1.58          1.67       1.66
     Deutsche Mark      - average     2.91          2.99       2.92
                        - closing     2.99          3.01       2.77
     Indian Rupee       - average    69.05         66.28      68.36
                        - closing    68.35         70.70      70.70
     Australian Dollar  - average     2.54          2.53       2.63
                        - closing     2.38          2.69       2.71

NOTES

3    Exceptional items
     
(a)  Operating exceptional items
                              Half year to  Half year to    Year to
                                   30.6.99       30.6.98   31.12.98
                                 £ million     £ million  £ million

     Business
     restructuring (note (i))        (14.6)         (3.1)     (22.8)
     Provision for Brazilian
     taxes (note (ii))               (14.3)
     Write down of assets in
     Indonesia                                      (7.3)      (7.8)
     Write down of European
     Information System                                       (24.5)
                                ------------------------------------
                                     (28.9)        (10.4)     (55.1)
                                ------------------------------------

     To clarify the effect on the results of the group, the
     following costs are disclosed as exceptional items in the
     profit and loss account to the extent that the group has
     committed to the expenditure.
(i)  As identified in the 1998 accounts, costs are being incurred
     in restructuring our principal businesses and supply chain
     operations.
(ii) Following a recent Brazilian Supreme Court judgement,
     provision has been made for  turnover-based taxes and
     associated charges mainly relating to prior years.

(b)  Non-operating exceptional items
     
                              Half year to  Half year to    Year to
                                   30.6.99       30.6.98   31.12.98
                                 £ million     £ million  £ million


     (Loss)/profit on
     disposal of operations:
      Peripheral Chemicals
      businesses (note (i))           (0.5)         13.4       16.2
      Ireland Fuels                    3.9
      LNG Transportation                            26.8       26.5
     ----------------------------------------------------------------
                                       3.4          40.2       42.7
     Provision for loss on disposal
     of businesses (note (ii))        (5.3)                    (1.3)
     (Loss)/profit on disposal
     of fixed assets (note (iii))     (1.3)          0.2       (0.6)
     ----------------------------------------------------------------
                                      (3.2)         40.4       40.8
     ----------------------------------------------------------------

(i)  The loss on disposal of peripheral Chemicals businesses in the first
     half of 1999 arises from the sale of the Timber Treatments business,
     including acquisition goodwill written back of £3 million.  The
     profit on disposal in the first half and full year 1998 is
     principally the profit on disposal of Metal Carboxylates and
     Industrial Adhesives, net of acquisition goodwill written back of
     £9.2 million.

(ii) Provision has been made for the loss on disposal of the Aluminium
     business, including acquisition goodwill written back of £8 million,
     which was sold on 6 August 1999.

(iii)Disposal of properties resulted in a net loss of £0.3 million.  A £1
     million loss on fixed asset investments arose in the Burmah Castrol
     plc Employee Share Trust as a consequence of the return of capital.


NOTES

4    Interest

                              Half year to  Half year to    Year to
                                   30.6.99       30.6.98   31.12.98
                                 £ million     £ million  £ million


     Interest payable and
     similar charges                 (15.9)        (12.3)     (24.7)
     Interest receivable and
     similar income                    6.1           7.9       15.2
     ----------------------------------------------------------------
                                      (9.8)         (4.4)      (9.5)
     ----------------------------------------------------------------

5    Taxation
     
     The taxation charge is calculated by applying the directors'
     best estimate of the annual tax rate to the profit for the
     period.  The amount of the tax charge, excluding exceptional
     items, relating to overseas taxation is approximately £43
     million (1998:  June £40 million;  December £77 million).
     Taxation attributable to exceptional items is reported within
     that column in the Summary Group Profit & Loss Account.  The
     amount of overseas taxation in exceptional items is a credit
     of £6.5 million (1998:  June charge of £1 million;  December
     credit of £4.5 million).  The total amount of taxation
     attributable to associated undertakings is £0.3 million
     (1998:  June £0.4 million;  December £0.8 million).

6    Earnings per share

                              Half year to  Half year to    Year to
                                   30.6.99       30.6.98   31.12.98
                                   million       million    million


     Basic weighted average number
     of shares in issue              199.7         211.3      211.0
     Potential dilutive shares         0.8           1.5        1.0
     --------------------------------------------------------------
     Diluted weighted average
     number of shares in issue       200.5         212.8      212.0
     --------------------------------------------------------------

   Earnings  per  share  for  June  1998  and  December  1998  are
   calculated  after  deduction  of preference  dividend  of  £0.5
   million.

7    Return of capital
     At an extraordinary general meeting of the Company held on 26
     March 1999 a special resolution was passed to approve the
     return of capital scheme.  The reduction of capital was
     confirmed by the Court of Session on 7 May 1999.  Capital
     shares with a par value of £138.8 million were repaid at a
     cost of  £280.8 million, including expenses of £1.1 million.

8    Analysis of net debt

                              Half year to  Half year to    Year to
                                   30.6.99       30.6.98   31.12.98
                                 £ million     £ million  £ million


     Cash at bank and in hand           87            89         96
     Current asset investments         131           180        159
     Short-term borrowings           (137)         (154)      (134)
     Long-term borrowings            (483)         (168)      (191)
     Finance leases                    (1)           (3)        (2)
     --------------------------------------------------------------
     Net borrowings                  (403)          (56)       (72)
     Obligations recognised
     per FRS 5                        (58)          (71)       (77)
     --------------------------------------------------------------
     Net debt                        (461)         (127)      (149)
     --------------------------------------------------------------

     Long-term borrowings include Euro 400 million 4 7/8 per cent
     Bonds due 2009, issued on 12 March 1999.  In accordance with
     the group's policies on currency and interest rate risk
     management, Euro 300 million of the Eurobond issue has been
     swapped into Sterling, of which Euro 225 million is at
     floating rates of interest and Euro 75 million is at fixed
     rates.  The remaining Euro 100 million of the Eurobond issue
     has been retained in Euros, but swapped into floating rate
     debt.

9    Reconciliation of operating profit to operating cash flow

                              Half year to  Half year to    Year to
                                   30.6.99       30.6.98   31.12.98
                                 £ million     £ million  £ million


     Operating profit                  136           125        256
     Exceptional items                 (29)          (10)       (55)
     Depreciation charges               46            42         91
     Changes in external
     working capital                   (34)          (40)       (29)
     Changes in other
     debtors/creditors                 (20)          (34)        (7)
     Non-cash items included
     in operating profit                26             6         17
     --------------------------------------------------------------
     Net cash inflow from
     operating activities              125            89        273
     --------------------------------------------------------------

10   Interim 1999 dividend
     
     The interim dividend of 15.4 pence per share will be paid on
     14 January 2000 to shareholders on the register at the close
     of business on the record date, which is 8 October 1999.  The
     corresponding ex-dividend date is 4 October 1999.  The cost
     of the interim dividend will be £27 million.  The Company
     offers a dividend re-investment plan to shareholders.
     Details are available on request from the Company's
     Registrar,  Lloyds TSB Registrars,  54 Pershore Road South,
     Birmingham,  B22 1AD  (Telephone:  [phone] - please
     quote company reference 1138).
     
11   Events after the balance sheet date
     
     Subsequent to the end of the accounting period, the Aluminium
     business has been sold.  A loss on disposal of £5.3 million
     has been provided for and reported as a non-operating
     exceptional item in the interim results and the operating
     results of the business have been included within
     discontinued operations.
     
     On 19 July 1999, the group completed the acquisition of two
     Construction Chemicals businesses in France and Spain for a
     consideration of £15 million.
     
12   Status of interim results
     
     This interim report was approved by the directors on 7
     September 1999, and will be mailed to shareholders on 17
     September.  It should be read in conjunction with the 1998
     annual report, which contains the most recent audited
     financial statements.

     Results of the two half years have not been audited, but have
     been reviewed by the auditors.

     The financial information contained in this interim financial
     statement does not constitute statutory accounts as defined
     in section 240 of the Companies Act 1985.  The financial
     information for the preceding full year is based on the
     statutory accounts for the financial year ended 31 December
     1998.  Those accounts, upon which the auditors issued an
     unqualified opinion, have been delivered to the Registrar of
     Companies.