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El Paso to sell more assets to pay debt. (Company Briefs).
Publication: Oil and Gas Investor Publication Date: 01-MAR-03 Author: Wetuski, Jodi
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COPYRIGHT 2003 Access Intelligence, LLC.
Most of its refining business will be sold in El Paso Corp.'s 2003 round of cash-raising asset sales, which it expects will total $2.9 billion and follows $3.9 billion of divestments in 2002. The company also will exit the liquefied natural gas (LNG) business, despite that it has been among the most vocal backers of new North American LNG capacity in the industry.
2003 capex will total $2.6 billion, a 35% decline...
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