Saudi Arabia is prioritizing the delayed IPO of flagship energy firm Aramco. A domestic listing looks set to be the first move. Meeting the hoped-for $2trillion will be an uphill struggle, whoever the energy minister.

It’s going to be very soon. We are prepared, that is the bottom line.” Saudi Aramco CEO Amin Nasser struck a confident pose on the firm’s planned IPO during this week’s World Energy Congress (WEC) in Abu Dhabi. Responding to questions on the stalled...