Other posters are correct, you MUST have a low ash level oil (this is part of the BMW LL-04 specification) for a recent (since around 1998 or so) BMW diesel engine. In Failure to do so will have negative consequences for your emissions (diesel particulate filter & cat if so equipped).

The Mobil 1™ you are thinking to use is not suitable.

Mobil 1™ ESP Formula is their LL-04 product.

I personally have had very good results with the Amsoil 5W40 European Auto (meets LL-04) for my '02 X5 diesel. I use 5W40 rather then 5W30 (recommended viscosity, but this is for fuel mileage) as I had a close-out buy on two cases of oil.

Bottom line: BMW LL-04 is the spec you MUST follow if you have a BMW diesel.

__________________
2002 Euro X5 (E53) 3.0 diesel (M57)
5 speed manual with UUC short shifter.
Pre-xDrive NV125 transfer case (chain & gears).
Factory Xenon headlights, Spyder LED tail lights
Updated vortex crankcase breather.
Motorsport dead pedal, factory fire extinguisher, factory first aid kit, factory F&R mud flaps, factory PDC

Bilstein B6 shocks F&R
Redline oil has replaced "lifetime" fluids (F&R diff, manual transmission, transfer case and P/S).
Dimple magnetic drain plugs in all compartments.