Iraqi oil minister Jabar al-Luaibi is reportedly looking to build a fleet of oil tankers so the country's oil can reach global markets.
The statement, which was released through Iraqi Oil Tankers Company (IOTC), quotes al-Luaibi as saying, "the (oil) ministry is keen to restructure the company and develop its operations by building and buying a large fleet of tankers."
Part of the restructuring will centre around building up training in meeting international safety standards for shipping crude oil, according to the statement.
IOTC currently has a minuscule fleet of five vessels, mostly products and chemical tankers. It had at one 24 tankers, but most of those were destroyed during the first Persian Gulf War with the US.
Neighbouring oil producers are also looking at fleet expansions. Saudi Arabia's Bahri, which already has some 36 tankers on the water at 11.3 million deadweight tonnes, has ten more ships on order for another 3 million deadweight tonnes.
The National Iranian Tanker Company, which is the largest owner in the world with some 65 tankers totalling 14.3 million deadweight tonnes, has also made noises about renewing its fleet as the country's oil trading returns to normal after years of sanctions.
