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It's a "Cosmoline"-type coating that came from the factory...protects the alloy engine surfaces from corrosion due to exposure to salt air (during shipping).
Funny though, it usually wears off over time...strange to see it so prevalent on a valve cover after a decade!
What I DID notice is the engine in the pic is missing the black plastic cover that covers the cam area...
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2009 ML350 (106K) - Family vehicle
2001 CLK430 Cabriolet (80K) - Wife's car
2005 BMW 645CI (138K) - My daily driver
2016 Mustang (32K) - Daughter's car
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