JUST GOT THIS ML270 CDI AND WHILE DRIVING A WARNING BEEP HAPPENS AND IT SAYS OIL HI. WAT DOES THAT MEAN

Check coolant level . leaking fuel lines while running and stopped, gas tank filler cap , temperature censor ,low oil pressure , crank censor and fuel pump . Could also be the ECU ...

white smoke is usually coolant, get the head gasket checked before you drive it any further, and check for any oil in your coolant reserve, or water bubbles mixed into your oil.

The oil light usually comes on when the oil pressure is low and this is caused by low oil level or low oil flow (a blockage or faulty oil pump, usually). Just guessing, but "HI" could mean the opposite, high oil level or high pressure but it is a new one to me.
Best bet is to go online and find a forum for your particular model and search in their knowledge database.

Turbo wont cause it not to start. Oil in induction hoses is normal at higher mileage and does not mean needs a turbo again. If turbo sprayed out oil whilst driving you would know about it....masses of smoke from exhaust and unconrtollable engine rpm. Sounds more like a failed CPS (crank sensor) or electrical issue.

check the gearbox oil level ,but their is no dipstick ,so its a dealer only job unless you can find a snap on man who sells a special tool that can measure the oil level ,

have abs sensor tested -some times if sensor gets corrosion or wiring connection problem-the abs activates in low speed usually under 10 miles an hour

you need a Brake safety switch replaced.This is located behind you brake pedal. it's a common problem. The warning lights will reset after a few engine starts.

it may just mean the oil needs topping or you need a filter change

Yes it could be that simple and probably is.

• you need a Brake safety switch replaced.This is located behind you brake pedal.it's a common problem. The warning lights will reset after a few engine starts.