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SAO PAULO, Sept 29 (Reuters) - Brazil's Finance Minister Joaquim Levy said on Tuesday that state-run oil producer Petroleo Brasileiro SA, known as Petrobras, is taking the right steps to shore up its operations.
Speaking at an event in Sao Paulo, Levy said the company, currently struggling through a massive corruption investigation, is making progress on increasing the professionalism of its management team and cutting costs.
Referring to the broader Brazilian economy, Levy highlighted the need to enact tax and labor reforms while providing "long-term visibility" on the outlook for social security. (Reporting by Marcelo Teixeira; Editing by Chizu Nomiyama)