Introduction
When heading into earnings season everyone knew that the financial results of the oil and gas industry were going to be ugly and likely the worst in memory for many investors. This was naturally no different for the Italian major Eni (E) who also reduced their dividend significantly, which I warned was a likely outcome in a previous article. This follow-up article incorporates their latest results to take a look at their new shareholder returns policy and reassess their financial strength to ensure that no further undesirable actions are likely, such