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I would check the spark plug wires, including the coil wire, to make sure they are ok. Also, check the spark plug wells (under the Volvo 20V cover). Sometimes oil or water gets in there and basically shorts out the ignition cycle.
I would also check the fuel pressure as mentioned, and the air filter too. Are there any error codes? It is a good idea to get a code reader, that can help, plus it is usable on other OBD2 cars.
If there are no error codes, then it is probably something basic, fuel, spark, or air related. But check for error codes first.
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