Air Products: Global Leader in Hydrogen Production Expands Its Footprint

Hydrogen Chief Insight Commentary: At a time when the global economy and energy sector are reeling from the impact of COVID-19, Air Products (AP) has launched a countercyclical expansion—bolstered both by its solid financial position and its steadfast commitment to its core industrial gas business strategy. The acquisition of five hydrogen production plants from PBF Energy accounts for approximately 10% of PBF’s annual hydrogen production capacity. “Compared to our past achievements, I place greater value on our future aspirations.” — Seifi Ghasemi, Chairman and CEO of Air Products Founded in 1940 in Wilmington, Delaware, USA, Air Products has long delivered unique products and solutions to customers worldwide—including industrial and specialty gases, equipment, and services. AP is the world’s largest supplier of hydrogen and has established leadership positions in high-growth markets such as helium and liquefied natural gas (LNG) process technologies and equipment. AP also develops, designs, builds, owns, and operates some of the world’s largest industrial gas projects—including sustainable initiatives that convert abundant natural resources into syngas for producing high-value power, fuels, and chemicals. The global pandemic triggered fears of an economic recession, precipitating the steepest oil price collapse in 30 years and the largest single-day stock market crash on Wall Street since 1987. Yet AP moved decisively against the tide: ・ In early 2020, AP announced plans to build the world’s largest steam methane reforming (SMR) hydrogen plant in Jubail, Saudi Arabia, to meet surging demand from petroleum refining operations in the Eastern Province—and to construct Saudi Arabia’s second hydrogen refueling station. As early as 2019, AP had already partnered with Saudi Aramco to open the Kingdom’s first hydrogen refueling station at Dhahran Techno Valley Science Park. ・ In February, the largest hydrogen refueling station in the United States was inaugurated in Santa Ana, California, capable of fueling up to 50 buses—equivalent to a hydrogen dispensing capacity of 1,500 kg over eight hours. AP provided a full hydrogen fueling solution using its SmartFuel® technology—from hydrogen production and liquid hydrogen supply to station infrastructure—marking AP’s third hydrogen refueling station for public transit buses in the U.S. ・ By late March, AP signed an agreement with PBF Energy to acquire five of its hydrogen production plants (SMRs) for $530 million, and to supply hydrogen to PBF refineries under long-term agreements. Located in California and Delaware, these five plants collectively produce nearly 300 million standard cubic feet of hydrogen per day—approximately 10% of PBF’s total hydrogen production capacity. The transaction is expected to close in the third quarter of 2020.

Q3 Financial Results of the World’s Top 50 Chemical Companies Released! BASF, Dow, Hengli, Wanhua, and Others…

Yara International: Q3 2021 revenue totaled USD 4.486 billion, compared to USD 3.083 billion in the same period last year. Net loss for the quarter amounted to USD 143 million, versus net income of USD 340 million in the prior-year period. Bayer Group: Q3 2021 sales rose 14.3% (adjusted for currency and portfolio changes) to EUR 9.781 billion. EBITDA before special items increased 16.4% to EUR 2.089 billion. Net income totaled EUR 85 million, compared to a net loss of EUR 2.744 billion in the prior-year period. AkzoNobel: Q3 2021 revenue reached EUR 2.41 billion (approx. USD 2.715 billion), up from EUR 2.276 billion a year earlier. Net profit for the quarter stood at EUR 164 million, down from EUR 220 million in the prior-year period. United States Dow: Q3 2021 net sales totaled USD 14.837 billion, versus USD 9.712 billion in the prior-year period. Operating EBIT amounted to USD 2.9 billion—up more than USD 2.1 billion year-on-year. DuPont: Q3 2021 net sales were USD 4.271 billion, versus USD 3.629 billion a year earlier. Net income for the quarter totaled USD 391 million, compared to a net loss of USD 79 million in the prior-year period. Ecolab: Q3 2021 net sales reached USD 3.321 billion, up from USD 3.019 billion in the prior-year period. Net income for the quarter stood at USD 324 million, versus USD 246 million a year earlier. International Flavors & Fragrances (IFF): Q3 2021 net sales totaled USD 3.071 billion, versus USD 1.268 billion in the prior-year period. Net income for the quarter amounted to USD 194 million, compared to USD 85 million a year earlier. Westlake Chemical: Q3 2021 net sales reached USD 3.055 billion, up from USD 1.898 billion in the prior-year period. Net income for the quarter totaled USD 607 million, versus USD 57 million a year earlier. Eastman Chemical: Q3 2021 sales totaled USD 2.72 billion, versus USD 2.122 billion in the prior-year period. Net income for the quarter stood at USD 351 million, up from USD 161 million a year earlier. Air Products released its fiscal 2021 fourth-quarter and full-year results, ending September 30. Fourth-quarter sales totaled USD 2.841 billion, up from USD 2.32 billion a year earlier. Net income for the quarter amounted to USD 610 million, versus USD 487 million in the prior-year period. Full-year sales totaled USD 10.323 billion, up from USD 8.856 billion in fiscal 2020. Full-year net income reached USD 2.099 billion, up from USD 1.887 billion a year earlier. Huntsman: Q3 2021 revenue totaled USD 2.285 billion, versus USD 1.51 billion in the prior-year period. Net income for the quarter stood at USD 351 million, up from USD 161 million a year earlier. Celanese: Q3 2021 net sales totaled USD 2.266 billion, versus USD 1.411 billion in the prior-year period. Net income for the quarter amounted to USD 225 million, up from USD 57 million a year earlier. Mosaic: Q3 2021 net sales totaled USD 3.419 billion, versus USD 2.381 billion in the prior-year period. Net income for the quarter stood at USD 372 million, versus a net loss of USD 6.2 million a year earlier. Corteva: Q3 2021 net sales totaled USD 2.371 billion, versus USD 1.863 billion in the prior-year period.

Air Products and Chemicals Inc Director Bhavesh V. Patel Files Form 4

1 day ago

Air Products and Chemicals Inc director Bhavesh V. Patel filed a Form 4 disclosure on October 23, 2026, detailing ownership changes for the period ending September 30.

Investing.com Nigeria

2026-10-23

Air Products and Chemicals Inc Director Bhavesh V. Patel Files Form 4

Air Products and Chemicals Inc Director Bhavesh V. Patel Files Form 4

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