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An employee walks past the crude oil storage tanks at the Juaymah Reservoir Park at Ras Tanura Oil Refinery and Saudi Aramco Oil Terminal in Ras Tanura, Saudi Arabia on Monday, October 1, 2018.
Simon Dawson | Bloomberg | Getty Images
Saudi Aramco has asked several banks to apply for roles as part of its potential initial public offering, people familiar with the subject told CNBC on Monday.
Reuters had previously reported news of the company's talks with the banks.
The IPO of the state-controlled oil company is a long-standing goal of Saudi Crown Prince Mohammed bin Salman, who estimates the company at about $ 2 trillion. The state oil company would be the largest IPO in the world.
Saudi Energy Minister Khalid Al-Falih recently announced that Aramco would be open to the public in 2020 or 2021.
Aramco has decided to increase its IPO because of the success of its debt offer, according to some sources, which did not specify which banks had received applications from Saudi Aramco. The bankers attended the board meeting in Boston last month.
Saudi Aramco declined to comment.
Oil prices rose on Monday as the market began to take into account the current geopolitical risk of a weekend drone attack on an oil rig in Saudi Arabia.
Saudi Aramco said that oil production was not affected by the attack.
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