Turbo 2000 s40 volvo

SOURCE: volvo 940 turbo oil control valve location

take off pipe going to the intercooler from the turbo see if oil is found and clean then other pipe from incooler check it .if oil is found .drain oil in intercooler .you have an oil leak from the turbo this is why you will have light on far left of dash

SOURCE: Oil Leaking into the exhaust

hi there, there are chemicals on the market that will soften up the seals but these take time to work i would suggest changing the turbo, you will also have to remove the oil from the exhaust system this can be done with other chemicals like an upper cylinder cleaner feed directly in to the air intake but only after the turbo has be fixed
Regards JR

SOURCE: belt routing diagram 2001 volvo s40 1.9l turbo

SOURCE: 2001 Volvo s40 oil leaking in turbo, smokes white

Water in combustion chamber makes white smoke--suspect that the head gasket is leaking water into the chamber. If oil leaking around turbo, it may have a bad bearing and bad oil seal. Check waste gate valve and control.

SOURCE: hissing noise from engine when turbo kicks in and

check intercooler pipes for splits or holes dont think turbo is at fault you must check pipes carefully remove if you have to to check