The energy crisis unfolding in Europe is starting to weigh on a growing number of the continent’s oil, gas, and utility companies.
Uniper, Germany’s struggling natural gas utility giant, recently filed a bailout application to the government after facing significant financial challenges, according to Finnish majority owner Fortum.
For weeks, the firm had been in regular talks with the government regarding a potential bailout, recently warning that it needs to be rescued “in a few days.” Uniper has faced tremendous pressure after Russia started reducing its gas flows to Germany, the biggest gas importer. Over the last month, the energy giant has received just 40 percent of Russian contracted volumes, prompting the business to search for replacement volumes….