Exxon Mobil Corp. likely made a third consecutive loss in the last quarter, heaping further pressure on the energy giant’s ability to pay its $15 billion-a-year dividend, currently the third-highest in the S&P 500 Index. Exxon suffered further losses in its refining division in the third quarter while higher oil prices were likely not enough to push its production operations back into profit, the Irving, Texas-based company said Thursday in a filing. Refining margins took a negative hit of as much as $600 million in the period while chemicals made a small profit. A third-quarter loss would suggest Exxon still isn’t able to fund either its dividend or capital expenditure from operational cash flow, meaning it’s reliant on debt to get by. The last time the company generated enough free cash to cover its dividend was the third quarter of 2018, according to data compiled by Bloomberg. In aggregate, […]