The Ministry of Petroleum announced that it is working on preparing feasibility studies for a number of refining and petrochemical projects that will be included the new Suez Canal Axis Development plan, reported Daily News Egypt. Minister of Petroleum and Mineral Resources Sherif Ismail said that the petroleum sector is currently implementing a number of projects to raise the storage capacity and number of transport operations which, when provided, will secure the domestic market. He also added that the petroleum sector’s contribution in the new Suez Canal project is on two levels. The first level is the provision of fuel required to operate the equipment that participated in the drilling with a rate of 3,000 tons per day of diesel and 1,000 tons of marine diesel. The second level is Petrojet’s presence as a contractor in the excavation in the southern sector of the canal, and was able to fulfill the required tasks in record timing and using the latest equipment.