According to the company's webpage, the Group sells its petrochemical products on the Russian and international markets in two business segments: Olefins & Polyolefins (polypropylene, polyethylene, BOPP films, etc.

[4] SIBUR's petrochemicals business utilises mainly its own feedstock, which is produced by its Midstream segment using by-products purchased from oil and gas companies.

The Group is currently working on a new project Amur Gas Chemical Complex, which is set to become the largest base polymer facility globally by capacity.

SIBUR's feedstock processing infrastructure includes seven out of the nine existing GPPs in Western Siberia, five compressor stations and three gas fractionation units.

O&P facilities:[9] SIBUR's PE&I facilities produce the following products: –         plastics and organic synthesis products (PET, glycols, expandable polystyrene, DOTP, alcohols and acrylates) –         elastomers (rubbers) –         methyl tertiary butyl ether (MTBE) and fuel additives –         intermediates These are used in the chemicals, FMCG, construction, automotive, agriculture and other industries.

Although petrochemicals were not its core business, the gas company embarked on the mission set by the government to create a powerful national player in the deep hydrocarbon conversion market.

Towards the end of 1998, AK Sibur started its transformation into a vertically integrated petrochemical holding with a full production chain from the processing of raw materials through to the manufacture of finished goods.

[25][26] In 2003, Alexander Dyukov was appointed as the chief executive officer (CEO) of AK Sibur, and a new management team was formed.

[28] In 2007, Gazprom, as part of its strategy to exit from non-core businesses, disposed of its interest in the company by selling its 25% stake to the Gazfond private pension fund.

That same year energy trader Gennady Timchenko, ex-co-owner of Gunvor trading house, acquired a 37.5% stake in SIBUR.

[32] The expansion and modernisation of its assets allowed the company to capitalise on growth opportunities in both gas processing and petrochemical markets in Russia.

In 2016, SIBUR completed another project aimed at further expansion of the gas fractionation capacity in Tobolsk from 6.6 to 8 million tonnes a year.

[43] In June 2019, SIBUR and Sinopec signed a distribution agreement to supply PE to China from the group's ZapSibNeftekhim plant.

[48] In 2018, SIBUR completed the construction phase of the production of TPE at its compounding site in Voronezh, which added an annual capacity of about 50,000 metric tonnes.

SIBUR and Gazprom signed agreements in May 2018 and September 2019,[53] respectively, on long-term ethane (final) and LPG (preliminary) supplies totalling 3.5 million tonnes per annum.

MAN improves the durability of end products, enhances their waterproof properties, resistance to temperature stress and mechanical impacts.

[57] In 2013, SIBUR first entered the global debt capital market, placing its debut eurobond, due in 2018, raising $1 billion in gross proceeds.

[77] In May 2020, Standard & Poor's affirmed SIBUR's credit ratings at investment grade and revised outlook to negative which indicated the risk of a delayed recovery in petrochemical pricing in 2021.

[82] In June 2019, Konov announced that the long-anticipated IPO would take place no sooner than 2020 and suggested Moscow as the main venue for the listing.

At the time of the acquisition, production facilities belonging to the BIAXPLEN group comprised three plants located in the Nizhny Novgorod, Kursk and Moscow regions with a total annual capacity of 78,000 metric tonnes of commodity films.

[91] In April 2021, Sibur bought a controlling stake in oil and gas refiner company TAIF with a view to consolidate the assets.

The share of Leonid Mikhelson – from 36 to 31%, Gennady Timchenko – from 17 to 14.45%, the stake of current and ex-top-management – from 14,5 to 12,325%, Sogaz – from 12,5 to 10,625%, Silk road Fund and Sinopec – from 10 to 8.5%.

The joint venture was established for the development of a butyl rubber production facility in India with an annual capacity of 120 kilotonnes.

In addition, Sibur agreed to share proprietary butyl rubber technology, staff training and access to the complex equipment of polymerization reactors, which is unprecedented for a Russian company and marks a unique case of partnership between the two countries.

[105][106] On 5 June 2019, SIBUR and Sinopec signed a Term sheet for a potential Joint Venture that could be based at Amur Gas Chemical Complex.

In September 2019, SIBUR signed a gas supply deal with Gazprom, which would allow Amur plant to increase potential output by 80% to reach the extended configuration.

[107] In April 2021 SIBUR announced merger with another key company on the Russian petrochemical market – Tatarstan based holding TAIF.

[108] In December 2021, RusVinyl plant got a new CEO, Marc-Andre Lahalle, as a substitute for Guenther Nadolny after 10 years of service of leadership of the German top-manager.

[109] According to sources, as of 2022, the share of Leonid Mikhelson was 31%, Gennady Timchenko –14.45%, the stake of current and ex-top-management- 12,325%, Sogaz –10,625%, Silk road Fund and Sinopec –8.5% both.

[117] Between 2012 and 2017, SIBUR demonstrated the highest increase (+54%) in labour productivity among Russian companies according to ACRA Rating Agency.