In fact, there is really no difference between API Group II and Group III. The same hydrogenation synthesizers are used to make either base stock. The difference is only in the viscosity index VI, which is arbitrarily set to a minimum of 120 by API to be considered a Group III—hence synthetic—instead of a Group II. The viscosity index VI is controlled by the severity of hydrogenation process, which is adjustable on the same equipment, and the higher the VI, the higher the base-oil quality is. Therefore, the quality of "synthetic" Group III base stocks vary greatly when the VI increases from the minimal 120 to around 150. Castrol for example uses the lowest-quality Group III base stocks with VI in the low 120s, whereas Shell uses high-quality Group III base stocks with VI close to 140. High VI can be achieved either through petroleum wax or GTL wax, but it's much easier and cheaper with GTL wax. I read somewhere that GTL base stocks are actually cheaper than Group I and Group II base stocks.
These are some great articles on how Group II, Group II+, Group III, Group III+, and GTL base oils are made through hydroprocessing, as well as how Group I base oils are made through refining. Mineral base oils, conventional refiningHydroprocessing of base oils/overviewLube hydrotreating and...
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