My '03 S60 T5 (2.3L, stick shift, turbo) started sputtering when accelerating about a mile from home. I also noticed a burnt rubber smell. It's been driven a total of 4 miles since that happened, including a drive to and from Autozone. Autozone's diagnosis was PO303, so I got a set of Bosch spark plugs. I took the cover off to get to the plugs and noticed a pool of oil around the coils. The spark plug wells are dry and do not have any oil in them. It appears it's a bigger problem than just plugs or ignition coils. Any ideas, advice? I may need to take it in to the shop

 

Not sure what the P0303 code is for (VIDA has different codes)
The oil may be coming from the oil filler cap or the crankcase vent hose. It might be an indication that your oil separator is restricted causing the oil seepage up top. I would have this checked.

 

P0303 misfired on cylinder #3.

The ignition coils are suspects as well. Is the engine running rough?

If replacing the plugs still leaves you with a misfire/code that will not erase due to misfire then try swapping coils with another cylinder to see if the misfire follows the coil.