Actually there are two main ways, Eddie..... One way is high cracking of the residual fuel from the first distillation pass of the crude....this is then reassembled into polyalphaolefins and these make up the core base oil of the lubricant (to which the additives and what I term salt and peppers are added - friction modifiers etc and of course the polymer to allow it to perform at high and low temp.
Shell (and others) way is different - they literally hydrocrack the residue down and then reassemble them into long linear molecule chains with extra high viscosity indexes (XHVI baseoils) that make up the core - and then the additives etc.....the benefit to work at ultra-thin levels..... the first method (Mobil) has benefits at very low temperatures but for most of the world, this is irrelevant and, over time, even Exxon-Mobil have given away to the second way, the challenge there in lowering manifacturing costs (the reason that Shell Oil USA bought out Pennzoil Quaker-State as well as putting them in the driving seat as to market share.