Occidental Petroleum Corp. (NYSE: OXY) said July 20 it has appointed Oscar K. Brown as the company's senior vice president of worldwide business development.

Brown will oversee the company’s global business development functions across the Houston company's business segments. He brings more than 25 years of energy banking experience to this new role, according to the release.

Vicki Hollub, the company's president and CEO, said Brown's appointment, effective Aug. 9, will help the company pursue its strategic effort to strengthen its portfolio.

“Our strong balance sheet provides us with the flexibility to invest in opportunities to further strengthen our core areas in the Permian Basin, Middle East and Colombia, as well as our chemical and midstream segments," Hollub said in a statement.

Brown joins Occidental from Bank of America Merrill Lynch, where he most recently served as managing director and co-head of Americas energy investment banking. Prior, he worked at Barclays Capital, Lehman Brothers and Credit Suisse First Boston. He received a bachelor of business administration degree in finance and marketing from the University of Texas at Austin.