ramco's plan to remain at the top. >> market conditions, our goals within the company.aintain our pollings as the world-leading crude oil producers. lowest producer as well. aramcoerine, what is us?rt it wil -- tell >> it's hugely profitable. the price of oil has been declining. said, the selling price is for saudi crude fell to about the first half according to the information that we saw today. below the $80 target that we're hearing about last year. the $70 a peril that we would need to see more thestment according to saudi minister. this is just a firm that we know. strong incentive on prices. >> we heard that this would result in the best financial performance in any investor equity.debt or how did the energy market take it? up a little bit today. up little bit from being down last week. we lost over 5% last week. today we saw little bit of boost. that's in spate of sicklals. u.s.-china trade war war. aramco cut its capital spending, as a sign the supplies could tighten in the future. >> thank you very much. wentg up next, argentina from virtual unknown to global m

saudi ramco, the biggest oil producer in the world, has been in talks with reliance as it plans to secureoming mobile telephone business, jio. they disrupted the telecoms market with low cost calls, free handsets and appealing subscriptions. with 340 million customers, jio is india's biggest and the world's second largest telecom operator and it has plans to expand by launching high—speed broadband that offers calls, tv and internet at cutthroat prices. he said that his broadband services will reach tens of millions of residences and businesses across 1600 cities. finally mrjio launched an e—commerce venture and 1600 cities. finally mrjio launched an e—commerce venture and the new platform will help small stores to do everything digitally. it could be the next big move. the $700 billion retail has huge potential, especially as it is largely unorganised, but it's also one with stiff competition from global players like amazon and walmart backed flipkart. from india to the flying car. it's been the pipedream of inventors for more than a century, but none has ever made it onto the market. co

. >>> ramco reported a 12% drop in its profits in the first half of the fiscal year, although i still generated about $47 billion in net income. c theyed weaker oil that decline. they've been releasing more details about its finances as officials consider whether to list its shares on the public market. today the price of domestic crude rose despite concerns we've been talking about about a global economic downturn. >>> at the center of the energy market is the strait of hormuz, considered theine most important oil passageway because it's the only way to move oil from the p sian gulf to the world's oceans. we traveled to the region for a firsthand look. >> withrude oil prices in a slump that eve n a geopolitical crisis failed to shake, the.s. is struggling to form a coalition to protect international maitime trade including oil in transit each day. >> in this particular case, oile 20% of the world's comes through the strait of hormuz, that's not just a united states issue. that's a global issue. >> operating today out of the north arabian sea at the southeai tip of the s of hormuz, th