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.