Early stage oxidation of a dilute‐depleted uranium‐molybdenum alloy was analysed in situ under ultra‐high vacuum conditions by AES and XPS. At the equivalent of less than 300 ns at 1‐atm O2, U‐5Mo oxidizes to form stoichiometric UO2. No molybdenum oxidation is observed. After an oxygen dose of approximately 39 L, the oxide layer approached a limiting thickness of approximately 2.4 nm. The oxidation kinetics followed a logarithmic rate law, with the best fit to the experimental data for the oxide thickness, d, being given by d = 1.26 log(0.12t + 0.56). Changes in oxygen KLL and 1s peak positions associated with transformation from chemisorbed oxygen to metal oxide were observed at similar oxygen doses of 2.3 and 2.6 L O2 by AES and XPS, respectively, which opens up the possibility of using well‐characterized XPS chemical information to inform Auger peak shifts.