Engine Oil Consumption limits part of certification?
Indirectly yes, the FAA engine certification guidelines can be found here. The FAA does not really care how much oil you burn so long as you specify it in the documentation and the installation can provide enough to safely run the engine with some margin on top of that.  


  Paragraph 23.1011(b) 
  
  The engine requirements for oil quantities and temperatures are
  established by the engine manufacturer and may be found on the Type
  Certification Data Sheet or in the engine installation manual. The
  airplane installation must not cause the engine limits to be exceeded
  under normal operations.
  
  Paragraph 23.1011(c) 
  
  Paragraph 23.1011(c) requires that, “The usable oil tank capacity may
  not be less than the product of the endurance of the airplane under
  critical operating conditions and the maximum oil consumption of the
  engine under the same conditions, plus a suitable margin to ensure
  adequate circulation and cooling.” In other words, there needs to be
  enough oil (usable supply) to allow the engine to consume the usable
  fuel. This should be substantiated by a quantitative analysis. In
  addition, a suitable oil quantity margin for system circulation is
  necessary for all engine installations. The oil system should be
  capable of maintaining the engine within its operating limitations
  (i.e., oil temperature with the minimum oil quantity provided for
  circulation). Cooling tests do not need to be performed with a low
  usable oil supply provided the oil is properly cooled at all oil
  levels.


(To avoid copying all the text here) The document explains how to calculate these numbers as well under Specific Oil Consumption (SOC) and further under Single-engine Installations/Multiengine Installations. The content of Paragraph 23.1011(d) as well as Paragraph 23.1011(e) discuss feeding and pumping the oil around as needed.