Yes. Some years ago I worked for a company that produced just such equipment, but it was specified by the operators of the plant. We built filtration and degassification plant and for this work we built a vacuum vessel with weirs into which was pumped hot oil mixed with diesel. The diesel was flashed off, condensed and collected. Actually, I think the vacuum was created by liquid ring (water) pumps so there must have been subsequent separation processes taking place. The waste oil was subjected to acid treatment (sulphuric acid) to remove gums and subsequently filtered through filter presses to produce a clear lub oil base. Sorry, I do not know about the chemistry; we built the hardware.
I think one of the problems was one of scale. There simply wasn't enough waste oil of consistent specification, that could be brought ecconomically to one plant in the country, to warrant building a mainstream plant. At the pilot plant level the process is dirty and relatively hazardous. I have seen small plants operating doing this work (well, there were in the 80's), but I think on the largest project I worked on the scheme never went further than the pilot plant and the last that I heard the client was in talks with the main refineries to return the waste oil for mixing with crude.
........Nice post.....i don`t know exactly but some refinaries do use ultrasonic , centrifugal and magnetic seperation also apart from chemistry to recycle waste and used oil .......