I've sprung a new oil leak behind the engine to the right - under the silver-colored circular object in the attached photo.

https://lh6.googleusercontent.com/-x...s144-c/V70.jpg
https://blufiles.storage.live.com/y1...A/3.JPG?psid=1

Forgive my lack of technical knowledge, but can anyone tell me what's leaking?

I can email you a full-sized pic if this one's too small to see. (HRHHRH@gmail.com)

 

From the tiny pic looks like the PTC valve, but could be other things
Is your car a turbo?
The PTC can be cleaned, normally the fault is having the PCV system clogged.
While your car is running take the oil dipstick out and check for smoke coming out of the tube.

Could also be the gasket on your oil cap, the oil seeps down the spark plug cover and lands atop the turbo area.

I ask if its turbo, since theres a turbo oil return tube that goes into the oil pan

I just traced an oil leak from my 99 S70 T5 and check all the usual suspects, ended up being the oil return, but not in the normal area ( attached to the turbo) bit on the other end of the tube that goes into the oil pan.

You will have to get under the car and check it out.
I first cleaned most of the gunk from atop ( there was not much) started the car and looked for leaks, then went under the car with degreaser and a power hose and cleaned as much gunk and oil as I could, to trace the culprit.
A gasket, a seal and a few tools and no more leaking.

Anyway, if its the gunk on the tiny photo seems like a clogged PCV system

I can help more with better photos and more info

 

Is that the intercooler hose going into the turbo? Next to the heat shield?

 

Thanks, Elchopperfreak, someone had suggested the PCV system, but it seemed like a big job so I wanted to check further first. I'll also check the turbo oil return. The oil cap's clean & tight.

 

Yes it is.

 

I would clean all the area first, if its that bad you can remove the PTC ( if looking at the car is to the right of the intercooler tube) and clean, unclog.
I first thought the leak was from the piece of hose that connects the metal intercooler tube to the turbo, but there was not oil dripping after I cleaned up.
PCV is not that bad, besides removing the manifold.
Let me get some links.
I believe I have the oil return gasket and seal numbers if needed

 

About the turbo, sorry, I guess I did not read the small blue letters at the bottom of the photo.
Anyway, heres my quest for the oil leak link..
http://www.matthewsvolvosite.com/for...hp?f=1&t=43012

 

Thx...looking into it this weekend.

 

Looks like you have a lot of miles (km) on the car. That being the case, I really would not drive it much until you replace the PCV system, if it has not been done withing the past 70,000 km. I also would NOT recommend you fix any oil leak or replace the oil cap seal until that PCV system has been properly serviced. If crank case pressure is being relieved through any of those spots, and you fix or plug it up, the pressure will find another weak spot to relieve pressure, which could be a RMS or cam seals.

There are 4 things I try not to neglect on these cars.
1. Oil changes. Synthetic and regularly - because it's turbo.
2. Timing belt. Don't want to destroy the head.
3. Transmission service. Seen to many bad because of neglect.
4. PCV system. Usually neglected and causes major oil leaks.