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745T - poor fuel mileage, using oil 700

Anyone have ideas what's up with my 1990 745T? Symptoms are as follows:

Oil turns black within 500 - 750 miles after changing
Using 1 quart every 500 miles

Best fuel mileage is 18 and that's if I baby the peddle for the whole tank and try to keep the boost gage in the black zone. I;ve gotten as low as 12 mpg.

When I check the oil white smoke comes up through the dipstick shaft

Tapping noise (piston slap I guess) louder when engine is cold but still there after warm up.

I've only had this car about 3 months. It has 141k miles, If it wasn't for the oil consumption and poor fuel mileage I wouldn't think there was anything wrong.

Otherwise:
No smoking from the tailpipe.
Enging runs smooth and is nice and responsive
No leaks underneath, the transmission housing and engine oil pan are bone dry.



--
Randy






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