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                                                           |  OMB APPROVAL  |
                                                           |  OMB 3235-0145 |
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                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549

                               SCHEDULE 13G

                UNDER THE SECURITIES EXCHANGE ACT OF 1934
                           (AMENDMENT NO. 15)*

                       QUAKER CHEMICAL CORPORATION
    ------------------------------------------------------------------
                             (NAME OF ISSUER)

                      COMMON STOCK, $1.00 Par Value
    ------------------------------------------------------------------
                      (TITLE OF CLASS OF SECURITIES)

                               747316 10 7
              ----------------------------------------------
                              (CUSIP NUMBER)


    Check the following box if a fee is being paid with this statement
    (unchecked box). (A fee is not required only if the filing person:
    (1) has a previous statement on file reporting beneficial ownership
    of more than five percent of the class of securities described in
    Item 1; and (2) has filed no amendment subsequent thereto reporting
    beneficial ownership of five percent or less of such class.)
    (See Rule 13d-7.)

    *The remainder of this cover page shall be filled out for a reporting
    person's initial filing on this form with respect to the subject class
    of securities, and for any subsequent amendment containing information
    which would alter the disclosures provided in a prior cover page.

    The information required in the remainder of this cover page shall not
    be deemed to be "filed" for the purpose of Section 18 of the Securities
    Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
    that section of the Act but shall be subject to all other provisions of
    the Act (however, see the Notes).


                       (Continued on following page(s))

                              Page 1 of 5 Pages



CUSIP NO. 747316 10 7              13G                    PAGE 2 OF 5 PAGES


- -----------------------------------------------------------------------------
 1  NAME OF REPORTING PERSON
    S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

      Peter A. Benoliel
      Social Security Number: ###-##-####

- -----------------------------------------------------------------------------
 2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                        (A) (unchecked box)
      Not Applicable                                    (B) (unchecked box)

- -----------------------------------------------------------------------------
 3  SEC USE ONLY



- -----------------------------------------------------------------------------
 4  CITIZENSHIP OR PLACE OF ORGANIZATION

      United States of America

- -----------------------------------------------------------------------------
                     5  SOLE VOTING POWER

                          667,573

                    ---------------------------------------------------------
                     6  SHARED VOTING POWER
  NUMBER OF
   SHARES                 -0-
BENEFICIALLY
  OWNED BY          ---------------------------------------------------------
    EACH             7  SOLE DISPOSITIVE POWER
  REPORTING
   PERSON                 667,573
    WITH
                    ---------------------------------------------------------
                     8  SHARED DISPOSITIVE POWER

                          -0-

- -----------------------------------------------------------------------------
 9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      667,573 (Does not include 450,000 shares under irrevocable trust of
              which the Reporting Person is the Settlor and income
              beneficiary, but for which the Reporting Person has no voting
              or dispositive power)

- -----------------------------------------------------------------------------
10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*



- -----------------------------------------------------------------------------
11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

      6.91%


- -----------------------------------------------------------------------------
12  TYPE OF REPORTING PERSON*

      IN


- -----------------------------------------------------------------------------
                  *SEE INSTRUCTION BEFORE FILLING OUT!



Item 1(a).     Name of Issuer.
               ---------------

               The name of the company which is the issuer of the
               securities to which this report relates is Quaker
               Chemical Corporation (herein the "Company").

Item 1(b).     Address of Issuer's Principal Executive Offices.
               ------------------------------------------------

               The Company's principal executive offices are
               located at Elm and Lee Streets, Conshohocken,
               Pennsylvania  19428.

Item 2(a).     Name of Person Filing.
               ----------------------

               The name of the person (herein the "Reporting
               Person") filing this report is Peter A. Benoliel.

Item 2(b).     Address of Principal Business Office or, if none, Residence.
               ------------------------------------------------------------

               The address of the Reporting Person's principal
               business office is c/o Quaker Chemical
               Corporation, Elm and Lee Streets, Conshohocken,
               Pennsylvania  19428.

Item 2(c).     Citizenship.
               ------------

               The Reporting Person is a citizen of the United
               States of America.

Item 2(d).     Title of Class of Securities.
               -----------------------------

               The title of the class of the Company's securities
               to which the report relates is Common Stock, $1.00
               par value.

Item 2(e).     CUSIP Number.
               -------------

               The Company's CUSIP number is 747316 10 7.

Item 3.        Not Captioned.
               --------------

               Not applicable.


                           Page 3 of 5



Item 4.        Ownership.
               ----------

               The number of shares of securities of the Company
               beneficially owned by the Reporting Person on
               December 31, 1993, was as follows:

               (a)  Amount Beneficially Owned:         667,573

               (b)  Percent of Class:                  6.91%

               (c)  Number of Shares as to which the Reporting
                    Person has:

                    (i)   Sole power to vote or to direct the
                          vote:  667,573

                    (ii)  Shared power to vote or to direct the
                          vote:  -0-

                    (iii) Sole power to dispose or to direct
                          the disposition of:  667,573

                    (iv)  Shared power to dispose or to direct
                          the disposition of:  -0-

Item 5.        Ownership of Five Percent or Less of a Class.
               ---------------------------------------------

               Not applicable.

Item 6.        Ownership of More than Five Percent on Behalf of
               Another Person.
               ------------------------------------------------

               Not applicable.

Item 7.        Identification and Classification of the
               Subsidiary Which Acquired the Security Being
               Reported On By the Parent Holding Company.
               --------------------------------------------

               Not applicable.

Item 8.        Identification and Classification of Members of the Group.
               ----------------------------------------------------------

               Not applicable.


                           Page 4 of 5



Item 9.        Notice of Dissolution of Group.
               -------------------------------

               Not applicable.


Item 10.       Certification.
               --------------

               Not applicable.



     After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.



Date:  February 10, 1994


Signature: Peter A. Benoliel

Name/Title:   Peter A. Benoliel, Chairman of the Board





                           Page 5 of 5