Jebrah, here's my two cents worth....

I'm assuming you are talking about your crankcase oil.....

1. tools needed: catch pan for oil collection, one that can hold more than four litres, but not to big that it won't fit under car! Adjustable wrench or wrench sized, to loosen oil pan plug. Oil filter strap/handle, needed if filter installed too tightly previously.

2. warm engine prior to oil change, to make oil more lucid, but not to full operating temperature as to burn yourself!

3. remove filler cap, remove oil filter, remove oil pan plug in this order...

4.after draining oil pan, replace pan plug USING NEW WASHER. Don't overtighten plug, just make it snug

5.prepare new oil filter by applying new oil (same as engine) to the rubber seal on filter. Just dip your finger in the new oil, and spread over rubber seal. Screw on new filter, just hand tighten as tight as possible. (this is all that is required, next time you will be able to remove with no tools)

6.pour in new oil into engine via oil filler access, adding the required amount as per your owners manual specifications. 240s are 4 litres.

7.return filler cap

Done.

Tips: spread plastic, or paper underneath engine to collect drips or possible spills. Consider purchasing a magnetic drain plug in the future (inexpensive) to collect metal shavings/particles from engine. Personally, I only use genuine Volvo parts, but this is just a personal thing. Be wary of aftermarket filters. Use funnel to help pour in new oil...great if you have a shakey hand! Dispose of old oil responsibly.

If I have over looked anything, be sure that others will let us know!!!