No such thing as a good oil treatment. Modern oils are formulated with everything a proper running car needs. If your car is smoking because of oil consumption there is no chemical you can add to your car to fix it.
What kind of smoke is it? Blown headgasket (white smoke) or actual oil consumption (blue smoke) or just morning condensation which is harmless vapor that goes away once the car warms up.
If the engine is the M60 V8 you potentially are experiencing the nikasil failure common to these engines. The coating on the cylinder walls fails, compression drops, oil consumption increases.
Search nikasil or nicasil BMW and you will find lots of reading as well as a way to identify if yours is a nikasil block.
Or the fuel mixture is off because his oxygen sensor is dying.
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