Saudi state oil giant Aramco commenced its secondary public offering on Sunday as the company looks to raise in the region of $12 billion. At the midpoint of that range, the sale would total around $11.5 billion but could eventually reach up to $13.1 billion. Four more banks were added to the share offering, Reuters reported on Sunday, including Credit Suisse Saudi Arabia and BNP Paribas. The share sale is the company's second, after Aramco first entered public markets in 2019 and offered 1.5% of the company to investors. Aramco is the world's largest oil company in terms of both daily crude production and market cap.

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Organizations: Aramco, Saudi Arabian Oil Group, World Petroleum Congress, Saudi, Reuters, Credit Suisse Saudi, BNP Locations: Saudi, Stampede, Calgary, Canada, Credit Suisse Saudi Arabia