New engine/Rebuild time - It's stuffed. I'll leave it to the others to explain the basics of checking vital fluids..... Simple way to keep your 940 alive is to check your oil/fluids, very costly mistake but you won't do it again....... the Oil warning light, is actually a pressure warning light, and you should NEVER rely on "sensors" for the lifeblood of your engine. By the way, by the time the low pressure light comes on, your engine is completely stuffed.