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I had a similar issue a while ago and here was the problem.
There are little filters in the oil lines running to the turbo.
These filters slid up into the valve and clogged it. (Subies known for that)
the blockage restricted flow of oil to the turbo
turbo bearings go bad. (had a lot of "wiggle room")
this caused to burn oil (I had the same smoke coming out of my exhaust, first at idle, then all the time)
at this point the turbo is bad and you do not want to drive it. the turbine could smack into the housing breaking into pieces going into motor. (NOT GOOD)
I am not sure if this happened to you but it is possible.
Good Luck
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