Shell, an oil and gas company, agreed to acquire Environmentally Considerate Lubricants business from PANOLIN, a producer of lubricants. Financial terms were not disclosed. “We are entering into this strategic acquisition to grow our presence in the global industrial lubricants market, through differentiated, value-added propositions for our customers. Once completed, the acquisition will enable us to complement our existing range of sustainable products in response to increasing customer demand," Machteld de Haan, Shell Global Executive Vice President.