By John Lee.
Iraqi security forces claimed on Thursday to have taken control of most of Baiji oil refinery from the Islamic State group (IS, ISIS, ISIL).
But the complex is reported to have been almost completely destroyed in the long battle for control of the site and nearly town.
According to Reuters, conservative estimates predict it will take billions of dollars and many years to reinstate the refinery, which was once responsible for more than 40 percent of Iraq’s production of gasoline and other refined products.
“It will probably be cheaper and easier to restart from scratch, as there’s really not much left to repair,” said one executive.