Late last week, Aramco confirmed a Reuters report that it was working on a possible purchase of a "strategic stake" in Saudi Basic Industries Corp (SABIC) from the Public Investment Fund, the country's main sovereign wealth fund.
Aramco and Morgan Stanley did not immediately respond to a Reuters request for comment. JPMorgan declined to comment.
(Reporting by Hadeel Al Sayegh, Tom Arnold and Rania El Gamal. Editing by Jane Merriman)