My 1993 BMW is blowing blue smoke, and ticking. What does this mean?

1993 BMW 525I
20,000 MILES
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WSCOTT
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The oil light is saying " Oil Level Low" EVEN AFTER ADDING 3 QRTS
Nov 30, 2011 at 4:46 PM
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JACOBANDNICKOLAS
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Blue smoke indicates oil getting into the combustion chamber. Thus, it is burning oil. The noise could be several things. As far as the oil, make sure you are not misreading the gauges and the oil pressure is low. Have that checked.
Nov 30, 2011 at 5:00 PM