Sunday, January 16 2005 12:27 Hrs (IST) - World Time -

New Delhi: Asking the Oil industry not to be complacent, Prime Minister Manmohan Singh today (Jan 16, 2005) said his Government is exploring possibilities of restructuring oil PSUs to make them globally competitive.

"We can no longer be complacent and must learn to think strategically, to think ahead and to act swiftly and decisively," Singh said inaugurating the Petrotech Conference-2005 in New Delhi.

This required a greater degree of professionalism in the management of country's oil and gas PSUs and in formulation of energy security strategy, he said.

The Government was exploring possibilities of restructuring oil PSUs to make them globally competitive, Singh said.

He said China was ahead of India in planning for the future in the field of energy security.