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The smartest thing you can do about fires is prevent them. Oil is prominent in the industrial workplace. Spilled/leaked oil presents three hazards: slipping, toxicity hazard, and fire. The source of an oil puddle is usually a mechanical problem (e.g., damaged seal), but an oil leak/spill/puddle becomes your problem if you are the first to see it.
Don’t ignore an oil mess (or spilled solvents, excess fibers, or excess dust). Unlike wine, spilled oil doesn’t get better with age. It just makes a place more dangerous.
If the oil mess is:
If you notice leaks on equipment but no real mess yet: