Engine burning oil and losing power

Not long after the 30000km service (done at 31000km) I noticed increasing oil consumption on my 2014 HS. I had to top it up every now and then but it didn't seem excessive at first and I blamed it on long distance trips. Apart from this the bike was running super-smooth.

Around 4000km later I topped it up again before a 3-day trip, but within 2 days of riding (900km) it fell from above the top indicator line to below the bottom one, so I had to top it up again with about 600ml oil just to get home safely. People riding behind me also told me they could smell oil burning.

The following day I started the bike in the morning and I could see a fair bit of white oil smoke coming out of the exhaust. After a few seconds it went away and the bike worked just fine, but after only a few km it suddenly lost much of its power. It still worked, and there was no warning light on the dash, but it simply didn't accelerate like it did before. I could open the throttle all the way and it accelerated like in slow motion. It's hard to explain, it's like towing a heavy trailer or driving a truck uphill, you can give as much gas as you want, it just doesn't go any faster. It's like the engine is only running at half power, but it doesn't really sound any different.

I then pulled over and had the bike towed to the nearest Ducati dealer, because it still had warranty left. Last week they asked me to come in and pick up the bike because they couldn't find a fault with it (diagnostics computer showed no error). Straight away though I could feel that the engine still has no power, brought it back to the dealer and asked them to take a closer look at the engine.

Anyone having had a similar issue with their bike? What could be causing that problem? A few fellow riders already suggested it could be valve seals, or broken piston rings.

Thanks both, that is very helpful advice!

I hope it won't drag on for months to get it fixed. I'll post an update when there's news.

Here's an update, in case others have similar problems and come across this post.

It seems the oil burning and power loss are separate issues. After several months of backwards and forwards the power loss appears to have been fixed by replacing the ECU and installing the CAN-BUS filter (as per the Hyper 821 recall).

Dealer believes the ECU got damaged and caused the random engine loss as well as a whole lot of further issues that happened later, like flashing lights on dash and engine errors.

Bike now runs fine but I need to ride it for a couple thousand kms before I can be sure, the issues only appeared randomly and not always, so hard to tell.

Regarding the oil consumption, I'm still monitoring it. It's possible it was caused by running different oil (Motul) which somehow always performs much worse in my bikes than the Shell 4T Ducati recommends. Unfortunately my workshop uses Motul but I've since changed the oil to Shell and the level hasn't dropped since.