Daily Brief Energy/Materials: Rubber Future SGX TSR20, Daicel Corp, Fenix Resources , Albemarle Corp, Kinetik Holdings , Permian Resources , Plains All American Pipeline, L.P., Plains GP Holdings LP, Revoil , Royal Gold Inc and more

Highlights

• Malaysia’s NR output drops 14.8% MoM in September 2025

• Quarterly production rises 36.9% despite yearly contraction

• Market sentiment mixed amid EUDR delay reports and rate-cut hopes

Natural rubber production in September fell by 14.8% to 26,647 tons from 31,285 tons in August, marking a 16.3% year-on-year drop from September 2024’s 31,847 tons. The contraction came as a setback following a modest recovery in earlier months

• Daicel is notable for being Japan’s only manufacturer of acetic acid and for holding world-leading market positions in some cellulose-acetate products and in acetate tow for cigarette filters.
• At current prices, the dividend yield of the company is at a healthy 4.6%. Its dividend yield averaged 4.4% from FY2021 to FY2025.
• The company has enjoyed a solid sales growth of 10.5% CAGR from FY2021 to FY2025. Operating income nearly doubled from FY2021 to FY2025.

• Fenix Resources is a rapidly growing, fully integrated iron ore producer in Western Australia, leveraging its wholly-owned logistics and port infrastructure to unlock stranded assets and maintain high margins.
• The company’s recent acquisition of a 30-year mining right at the Weld Range project is transformational, securing a 290 million tonne resource base that significantly extends mine life and provides a clear pathway to scale production beyond 4 million tonnes per annum.
• While the company trades at attractive valuation multiples and is poised for significant cash flow growth, its earnings are highly sensitive to the volatile global iron ore price, which remains the principal risk to the investment thesis.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

• Albemarle Corporation’s Q3 2025 performance showcases several key dynamics that are influencing the company’s strategic and operational directions.
• The company reported a 7% year-over-year increase in adjusted EBITDA to $226 million, despite facing challenges like lower lithium pricing.
• The net sales for the quarter were $1.3 billion, reflecting a decrease primarily due to the weakened lithium market, although partially offset by increased volumes in their Energy Storage and Ketjen segments.

• Kinetik’s third quarter 2025 results present a mixed scenario influenced by both strategic developments and challenges due to commodity market volatility.
• The company shows improvements on the operational front with the successful launch of the Kings Landing processing facility.
• This expansion in New Mexico bolsters Kinetik’s capacity and positions it to support increased production in the region.

• Permian Resources, a prominent player in the Delaware Basin, demonstrated strong operational performance in the third quarter of 2025.
• The company recorded its highest quarterly free cash flow per share despite a challenging commodity environment, showcasing robust execution across its operations.
• With production figures surpassing expectations—oil production rose 6% to 187,000 barrels per day and total production hit 410,000 barrels of oil equivalent per day—the company credits its success to effective deployment of its Texas development project.

• Plains All American Pipeline (PAA) reported strong third-quarter 2025 results, delivering an adjusted EBITDA of $669 million.
• The company is continuing its strategic focus on becoming a leading North American pure-play crude midstream entity.
• A significant move in this direction is the pending sale of its Natural Gas Liquids (NGL) business, expected to conclude by the first quarter of 2026.

• Plains All American Pipeline’s recent earnings call sheds light on its strategic maneuvers and financial health as it aims to solidify its position as a premier crude midstream company.
• The company reported a solid third-quarter adjusted EBITDA of $669 million, reinforcing the execution of its strategy focused on leveraging its asset base and maintaining disciplined capital management.
• The anticipated sale of Plains All American Pipeline’s Natural Gas Liquids (NGL) assets, scheduled to close early next year, marks a strategic shift to a more crude-focused portfolio.

• Revoil S.A. engages in the trading and marketing of petroleum products for use in cars, homes, and vessels in Greece.
• It offers gasoline, fuel oil, petrol, diesel and a range of lubricants for petrol engines, diesel engines, hydraulic systems, gear wheels, and outboard engines.
• The company also provides lamps, wind- screen wipers, car deodorants, and mobile accessories as well as car and moto wash, lubricant change, and other services. 

• Royal Gold’s third-quarter performance reflects a strategic expansion and strong financial results, highlighting both operational successes and potential challenges.
• The company reported record quarterly revenue of $252 million, driven by higher metal prices and increased production from key assets like Mount Milligan and Cortez.
• Gold continues to be the primary revenue driver, contributing 78% of total revenue.