Saudi Aramco said on Thursday it is looking to buy a stake in petrochemical maker Saudi Basic Industries Corporation (SABIC). Aramco said in a statement that it was in "very early-stage discussions" with the Kingdoms Public Investment Fund (PIF) to acquire the stake in SABIC via a private transaction. “These discussions are preliminary and there is no certainty that any such transaction will take place,” it said in a press release. “Saudi Aramco has no plans to acquire any publicly held shares of SABIC,” it added. In a separate statement, the PIF also said that talks about a sale were in early stages. "There is a possibility that no agreement will be reached in relation to this potential transaction," PIF said in a statement.