I wonder if anyone can give me some advice on my car??

Just recently it has started smoking especially when you start it up from cold, the smoke is white and smells of oil, once it is warm the smoke seems to go although it still smokes on idle as you pull up say at a junction, if you give it some stick smoke comes out of the passenger side bonnet vent, after opening the bonnet it appears to be the turbo where the smoke is coming from. The exhaust is black inside and there are traces of oil, also the oil pressure reads 10-15 on tick over and 35-45 when driving.
Any ideas?? please..

CheeRS in advance