Now just where did you read that? It is so wrong it is a joke. COP has MORE than ample ability to pay the dividend. In fact, the NEXT move will be to INCREASE the dividend. I expect an increase this year. COP makes most lists of companies who will be a dividend GROWER in future years.
Motley Fool, Wed Jan 23, article titled "ConocoNoPhillips 66"
They said " The company is committed to giving shareholders 20% to 25% of cash flows. Cash flows currently don’t pay capex and dividends and they will continue to use divestitures to pay the dividend rather than cut it."
Did you READ the article? Article SAYS dividends AND CAPEX ($15 billion). Huge difference in what you said (dividends). Tell me you realize the difference. Why don't you read the article posted this afternoon regarding COP and INCREASING dividends (Seeking Alpha I believe). You will be very reassured.