2000 Storia 1.0 smoky exhaust (oil burning?)

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I have a 2000 Daihatsu Storia 1.0 Manual (EJ-VE engine, M100S chassis, Japanese import). It has developed a smoky exhaust problem recently.

On start up a significant volume of white-ish smoke with a noticeable but not acrid smell is often emitted from the exhaust.
However, this only occurs if the car has been left turned off for at least a few hours.

The car will continue emitting smoke whether idle or driven for a few minutes, but will then stop doing so. Occasionally some of this smoke will also be emitted when revving the engine significantly to take off at a hilly intersection or when reversing quickly.

There is a noticeable loss of oil over the course of a week, so I have been topping it up. Coolant level still seems fine, and dashboard temp gauge has remained stable and safe.
When the smoking started I did an oil change and replaced the spark plugs (probably overdue), but that hasn't resolved the problem.
The check engine light has also come on in the last week.

I have owned the car for about a year. Bought it for a lower than expected price, the only service history I obtained was for the cambelt being replaced 6 months before. The car has always felt a bit gutless, but I assume that's to be expected from a small motor and the somewhat hilly roads around where I live. There has been no noticeable reduction of power while I've owned it.

Wondering if anyone here has had the same smoking problem, or can give some pointers towards what might be done to fix it? Thank you.

What codes from the check engine light?

Have you plugged in a diagnostic reader into the ecu to find out what the check engine light is? Odds are its the lambda/o2 sensors that need replacing and your over fuelling.

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'12' Plate Mazda MX-5 2.0 litre NC 3.5 Venture Roadster 160BHP
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I have a basic bluetooth OBD2

I have a basic bluetooth OBD2 reader which I have tried unsuccessfully. The car has an OBD2 socket but as a pre-2004 Japanese car I believe it uses a non-OBD2 protocol which the reader does not understand.

I have heard of bridging pins on the connector in order to display the code through flashes of the check engine light, but I am unsure of which pins I would need to bridge.