I recently installed a rebuilt B5254T engine in my 1998 Volvo V70 AWD Cross Country. When I start the car, heavy oil smoke at idle which gets heavier with throttle occurs. There is also heavy oil residue in the intake and exhaust manifolds. Compression is 130 psi in every cylinder. I replaced valve stem seals, new head gaskets, and gaskets throughout. There is no oil in the inner cooler lines. I'm at a loss to what is causing this.
Had the same problem with a customers car only last week, it was a turbo seal failure, you may see oil speck on the back of the car as high pressure oil will be leaking into the exhaust as well as the inlet side of the turbo.