10-Q/A

                                UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION 
                           Washington, D.C. 20549

                                 FORM 10-Q

(Mark One)

[X]   QUARTERLY  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT of 1934

For the quarterly period ended June 30, 1995

                                   or

[ ]   TRANSITION  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
      SECURITIES EXCHANGE ACT of 1934

For the transition period from___________________to__________________

Commission file number: 1-9409

                            DIAMOND SHAMROCK, INC.
            (Exact name of registrant as specified in its charter)

         DELAWARE                                     74-2456753
(State or other jurisdiction of                    (I.R.S. Employer
 incorporation or organization)                     Identification No.)

  9830 Colonnade Boulevard, San Antonio, Texas                   78230
(Address of principal executive offices)                      (Zip Code)

                             210-641-6800
        (Registrant's telephone number, including area code)
______________________________________________________________________________
(Former name, former address and former fiscal year, if changed since last
report)

  Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.                                      
                                                  (X) YES ( ) NO

              APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

  Indicate by check mark whether the registrant has filed all documents and
reports required to be filed by Sections 12, 13, or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court.
                                                  ( ) YES ( ) NO

                    APPLICABLE ONLY TO CORPORATE ISSUERS:

  Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
Shares of Common Stock outstanding at July 31, 1995: 29,021,996

Item 6. Exhibits and Reports on Form 8-K

(a)   Exhibits

15.1  Independent Accountants' Awareness Letter

27.1  Financial Data Schedule

99.1  Forms of Diamond Shamrock, Inc. Medium Term Notes, Series B

(b)   Reports on Form 8-K

A Report on Form 8-K was filed by the Company in the second
quarter of 1995 on June 1, 1995.


                              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 thereunto duly authorized.


                           DIAMOND SHAMROCK, INC.


                           By /S/ GARY E. JOHNSON            
                                  Gary E. Johnson
                                  Vice President and Controller
                                  (Principal Accounting Officer)

EX-27.1

 

<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               JUN-30-1995
<CASH>                                          16,700
<SECURITIES>                                         0
<RECEIVABLES>                                  242,600
<ALLOWANCES>                                     6,600
<INVENTORY>                                    241,000
<CURRENT-ASSETS>                               513,000
<PP&E>                                       1,755,000
<DEPRECIATION>                                 648,100
<TOTAL-ASSETS>                               1,672,200
<CURRENT-LIABILITIES>                          308,500
<BONDS>                                              0
<COMMON>                                           300
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     616,400
<TOTAL-LIABILITY-AND-EQUITY>                 1,672,200
<SALES>                                      1,466,400
<TOTAL-REVENUES>                             1,466,400
<CGS>                                        1,300,200
<TOTAL-COSTS>                                1,300,200
<OTHER-EXPENSES>                                90,100
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              22,800
<INCOME-PRETAX>                                 53,300
<INCOME-TAX>                                    19,900
<INCOME-CONTINUING>                             33,400
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    33,400
<EPS-PRIMARY>                                     1.08
<EPS-DILUTED>                                     1.03