Disk Errors
"Oblivion" can fail to load or crash after it loads on your PS3 if the disc is physically damaged. Disc damage can include smudge marks, light scratches, accumulated dirt or cracks. If the disc has minor damage, try cleaning it. Use a microfiber towel and an electronics cleaner to gently remove any smudges or dirt and buff away light scratches and then try loading the disc on your PS3.
Hardware Problems
Damage to the PS3 console may cause the disc to crash after loading. Test your console by trying to load another game disc that you know works. If the console crashes while using multiple discs that you know work, you may have a hardware issue. For example, the hard drive in your PS3 could have a faulty sector that's preventing it from working properly or the connectors on the PS3 may be damaged, which can result in problems with the outputted video.
Firmware Errors
Errors within the PS3 firmware can cause problems loading "Oblivion." Problems with the firmware result in an error code being displayed while trying to play or watch any type of disc on your device. Sony regularly releases updates to the firmware that corrects these problems as they become known. These updates may address the error code you see when you try to load the "Oblivion" disc. Alternatively, you can research individual error codes through the PlayStation Knowledge Center website at us.playstation.com/support/index.htm.
TV
Problems loading "Oblivion" can also result from problems with your TV. For example, a faulty connector on your TV can cause the PS3 to fade in and out. Test your console with the "Oblivion" game on another TV to verify that the problem is with your TV and not with your device.