Saudi Aramco

Discovery was made by Aramco, Saudi Arabia's state-owned oil company, says Energy Minister Prince Abdulaziz bin Salman

WSJ reports sale could happen before the end of the year

US, other countries plan to take advantage of low oil prices to fill storage tanks

It will sell an unspecified number of shares on the Riyadh stock exchange

Aramco has announced the world’s biggest stock flotation but it falls short of meeting Saudi Arabia’s ambitious goals

Company does not currently produce LNG and any such sale would be first of its kind

The crown prince also referred to future projects for investments, in sectors such as tech, energy and farm

Kingdom is scrambling to boost coffers of fund spearheading plan to diversify its economy

IPO for state-owned company could take place in 2018

Says 5% share capital expected to be sold, likely to be biggest share offering in history

Aramco produces more than 70 percent of the Saudi government’s revenue

Would be through listing on capital markets

State oil company says none of its employees were injured but gave no further details