Energy & Mining

Philippine oil exploration firm PXP Energy Corp. saw its core net loss widen to P50.2 million in 2025, up 50.8 percentfrom P33.3 million in 2024, the company disclosed to the Philippine Stock Exchange on Monday.

The Philippine Chamber of Commerce and Industry has urged swift and decisive action as geopolitical tensions following US and Israeli military strikes on Iran rattle global markets and threaten to derail the Philippines’ fragile recovery.

PXP Energy Corp. posted a core net loss of P50.2 million for full year 2025, widening from P33.3 million in 2024, as lower output from the Galoc Field, softer crude prices, and higher financing and foreign exchange related charges weighed on performance.

Escalating conflict between the US and Iran has jolted global markets anew, driving crude prices toward seven-month highs of USD 67 per barrel and sharpening risks for oil-importing economies like the Philippines. For the peso, the spike is a familiar stress test: higher energy costs threaten to widen the trade deficit and reignite inflation pressures just as stability seemed within reach.

Local fuel prices are expected to increase again this week, with possible further spikes due to worsening tensions in the Middle East.