In a Senate hearing that lasted six hours, Petrobras CEO Graça Foster acknowledged that the state-run oil giant made a bad deal when buying a refinery in Pasadena, Texas, in the US. She said the project has "low probability of recovery of investment." 

Repeating allegations made by Brazilian President Dilma Rousseff, Ms. Foster said the then Petrobras director for international affairs, Nestor Cerveró, omitted information on "very important" clauses in the purchase contract for the refinery. 

The clauses "put" and "marlin", which made the deal controversial, were allegedly not in the documents presented to Petrobras board, chaired at the time by Ms. Rousseff. The loss caused by the acquisition is already approaching $2 billion. 

*In the photo: the president of Petrobras, Graça Foster, and senators Lindbergh Farias (PT-RJ) and Eduardo Amorim (UP PSC).