Business & Economy

European companies declare bankruptcy .. And the reason?

Several European gas consuming organizations have filed for bankruptcy due to the high cost of fuel.
The British newspaper, The Independent, said that in recent weeks, 4 small energy companies have not been able to withstand prices, including fertilizer companies that rely on natural gas as a basic material, in addition to heavy industry companies, which consume large amounts of energy, as well as aluminum and cement producers.
Gas prices in Europe have risen since last year and have broken records. A month ago, the estimated cost of fuel slightly exceeded $500 per thousand cubic meters, and at the end of last September, it had reached $1,200.

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