Riyadh – Mubasher: The Saudi Arabian Oil Co, known globally as Saudi Aramco, is in talks with rating agencies before offering a bond issue over the coming period, the CEO of the world's largest oil producer said.

Aramco is considering picking up banks to lead manage the bond transaction, while its size will be specified soon, Bloomberg reported, citing Amin Nasser.

The CEO further noted that the Middle Eastern oil giant pushes ahead with closing the acquisition of Public Investment Fund’s (PIF) stake in Saudi Basic Industries Corp (SABIC).

Saudi energy minister Khalid Al-Falih said previously that Aramco would issue up to $10 billion bonds.