The logo of the Russian state oil company Rosneft is pictured behind a pipe at the Samotlor oil field outside the West Siberian city of Nizhnevartovsk, Russia, January 26, 2016. The debts of Russia’s top oil producer Rosneft are likely to rise as a result of its plan to buy a non-controlling stake in Indian oil refiner Essar Oil, Moody’s credit ratings agency said on Monday. Rosneft, whose net debt stood at $24.5 billion at the end of September, hopes to conclude a deal to buy a 49 percent stake in the 400,000 barrel-per-day refinery in western India by the end of June. Denis Perevezentsev, vice-president and lead Rosneft analyst at Moody’s, said the deal would be credit negative as it could increase the Russian company’s leverage, while not offering any clear benefits. In a note, Moody’s estimated that Rosneft could pay $2-$3 billion for a 49 percent stake […]