Remove the oil before pumping the water out. For an oil film, absorbent pads may be sufficient to collect the oil. You can get these pads through an environmental cleanup contractor or some automotive supply stores. For a thicker layer of oil, a vacuum truck may be necessary to skim the oil off the water. The New York State Department of Environmental Conservation can help you coordinate this work and obtain the needed supplies. Call their spill hotline at 1-800-457-7362.
If you absorb the oil before removing the water from the building, it can cut down on the amount of oil spread on walls and floors and the amount of other damage to your property.
DO NOT pump the water into your yard before removing the oil. The oil may spread and contaminate other areas including nearby wells, water bodies and homes.