I started getting bluish colored smoke out of the exhaust at cold starts for about 5 minutes.
I blamed the turbos, so I pulled them for a closer look. A tiny crack on the flange and a bit of oil collected inside one of the housings.

The question: Is there a valve or a solenoid that controls the oil feed to the turbos which can be faulty and as a result doesn't close when the car gets shut off and floods the turbos with oil?

I have no idea where else to look... Thanks in advance.

 

Its your turbos, I've seen many turbos that are on the way out only produce oil under cold conditions as well as WOT. Rebuild em.

-David Guy

 

I didn't see any info on how many miles are on your car or the set of turbos in question, but bluish smoke in the exhaust is an indication of oil in the exhaust stream. A very common source for the oil is failing seals in the turbos. This indicates the need for either getting a new set of turbos or having the existing set rebuilt. Without pictures of the cracks you mention, it is not possible to determine whether the existing manifolds are reuseable.

 

Thanks for the replies gents!
The motor has just under 100K. Will look into the rebuild. Sounds the time has come...