As it was pointed out a few times regrading manufacturer approvals in here and as well in other threads, it is not BMW LL spec oil, so not approved for the application as not tested/verified for the use in any bmw engines.Instead of Pennzoil Euro L 5w30, why not Pennzoil Euro LX 0w30 in this engine? I understand the LX has better LSPI characteristics, has Mercedes 229.51, 229.52, VW 54/507, ACEA C2, C3.
So bottom line, it can be used at your own risk and you are responsible for any harm or damage to your engine. Or it can be no harm, but nobody can guarantee it, as again it's not approved.
I would use Motul LL-01 FE (someone already posted VOA in here) or LM LL-17/LL-01 (for LM I would send to lab for VOA or wait for VOA if some posted it here). Both oils are 50% cheaper comparing to the original BMW LL FE oil