Soot is from incomplete combustion of the fuel. Diesel fuel has sulfur in it. Soot has both carbon and sulfur in it because the sulfur containing components do not get completely combusted either. Some of the sulfur from the fuel ends up in the oil where it can be converted into sulphuric acid by chemical reaction with moisture.
High levels of sulfur cause more particulates to be formed as the fuel is combusted. I believe this is one of the main reasons for the introduction of low sulfur fuels. If you are burning ultra low sulfur fuel, the acidity formed from soot reacting with moisture should be less.
I suggest you do some reading:
http://en.wikipedia.org/wiki/Ultra-low_sulfur_diesel