My 2013 Ford Ranger suddenly lost power with blue smoke and oil sprayed in the engine bay, what happened?

Any time you have that combination of symptoms, the end result is possibly not going to be very good. Rangers of this year and model have experienced problems in the past that include poor fuel or other fuel-system damage causing a piston to develop a hole or crack, and even things like a failed EGR valve (which is water-cooled in this model) draining the radiator and causing the engine to melt down.

You need to have an experienced mechanic take a look at the vehicle before doing anything else, as there’s a high percentage chance that your engine will need to be rebuilt or replaced. You might be lucky and have a simple problem that is cheap and easy to fix, but plenty of Ranger owners will attest to the slimness of that chance.