RIYADH, Saudi Arabia (AP) — Saudi Arabia's energy minister says a planned initial public offering of the state-run oil giant Saudi Aramco will happen "soon."

Speaking before the Future Investment Initiative summit on Wednesday, Prince Abdulaziz bin Salman told those gathered in Riyadh that "the IPO will come soon."

He also reference the kingdom's powerful Crown Prince Mohammed bin Salman.

Prince Abdulaziz said: "It will come in the right time with the right approach and definitely with the right decision. And it will be a Saudi decision, first and foremost. Specifically, Prince Mohammed's decision."

On Tuesday, a Saudi-owned satellite channel believed to be closely linked to the Al Saud royal family said shares in Aramco would be traded on Riyadh's Tadawul exchange in December. However, there have been repeated delays to the IPO.