Russian oil and gas companies Sibur and Taif, which recently launched finished lubricant production in Nizhnekamsk, are merging their petrochemical assets. Under the deal, Taif's existing shareholders will receive a 15% stake in Sibur in exchange for a controlling stake in Taif Group.The size of the Taif stake that Sibur will receive was not specified, but the combined company will subsequently be allowed to buy the rest of Taif. The deal is subject to completion of the relevant corporate procedures and regulatory approvals.Taif's lube arm, Taif Lubricants, operates Russia's only polyalphaolefin plant. The Nizhnekamsk facility has capacity to produce 10,000 tons of PAOs annually. In 2020 the company completed a modernization that included construction of a 10,000 t/y finished lubricants plant and introduction of additional PAO viscosity grades. The PAO plant now makes 2, 4, 6 and 12 centiStoke fluids.
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