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If it is a knackered piston ring does it smell like burned oil?
The smell seems to originate from from an area above the bank of cylinders nearest to the passenger, only when the car has been driven relatively hard.
I cannot perceive any change in the engine's performance.
No oil consumed yet but I assume that this will show after a few thousand miles.
Do a search , recently covered under funny smells ,could be a leaking rocker cover gasket , oil can drip on to hot exhaust giving a nasty smell worth checking
Usually a minor leak on to the exhaust.
Power stearing fluid has a tendancy to do this, it may be an oil leak as you have pointed out.
Get it checked out, but this is usually cause for that type of smell