Process for producing naphthenic base oils

A process for producing a naphthenic base oil comprising the steps of:

• a) dewaxing a hydrotreated naphthenic effluent having a sulfur content of about 0.0005% to about 0.5% by weight (as measured by ASTM D4294) and a nitrogen content of up to about 0.1% by weight (as measured by ASTM D5762) in the presence of a dewaxing cracking catalyst and under catalytic dewaxing conditions to produce a dewaxed effluent;
• b) hydrofinishing the dewaxed effluent in the presence of a hydrofinishing catalyst and under catalytic hydrofinishing conditions to produce a dewaxed hydrofinished effluent having reduced levels of polycyclic aromatic hydrocarbon compounds and reduced levels of unstable olefinic compounds;
• and
• c) fractionating the dewaxed hydrofinished effluent to remove one or more low viscosity high volatility fractions and provide a naphthenic base oil having a pour point (as measured by ASTM D5949) below about −5° C., at a yield greater than 85% of total naphthenic base oil over total hydrotreated naphthenic effluent.