Originally Posted by Moody
If this topic still alive, i'd love to know if there is a confirmed solution for this red light thing, as i'm having the exact same problem as you all described.
As I stated in my post of July 5, 2011 the problem of Low Oil Pressure was resolved by replacing the Oil Pickup Tube. The O-Ring on the end that fits into the Oil Pump was split. This probably could have been fix by just replacing the O-Ring, but the mechanic opted to go with the assembly which was not expensive. The labor however to get to the bottom of the engine of a 330xi was expensive!
It has been 2 months now and a few thousand miles nary a single appearance of that dreaded Red Oil Light (except when the engine is not running and the key is on ;-) )