Occidental Petroleum named a new chief operating officer and chief finance officer Monday.

Stephen Chazen is the chief operating officer, a new position at the company. Chazen previously served as president and chief financial officer since 2007.

James Lienert is the new chief financial officer, effective August 15. He has served as Occidental Petroleum's executive vice president of finance and planning since 2006. Previously, he was president of Occidental Chemical.

Los Angeles-based Occidental Petroleum has oil and gas fields in the United States, Middle East, North Africa and Latin America.

In mid-day trading, shares of Occidental rose $2.34 or 3 percent to $80.27 on the New York Stock Exchange.

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