http://lifestyle.iloveindia.com/lounge/h...--443.html
"Things Required
* Talcum Powder (or Cornstarch)
* Liquid Detergent (or Dish Detergent)
Directions
* To begin with, take the affected garment/ fabric and spread it on a flat surface with the oil based stain facing upside.
* Now, sprinkle good amount of talcum powder or cornstarch over the stain.
* Allow the powder to rest there for some hours or even overnight.
* After the due time, brush off the excess powder.
* In case you find oily powder residue on the fabric, rub it off and pour the powder once again and let the fabric to rest.
* Once you’ve finished this, wash or dry clean your fabric as you always do.
* After washing, examine the spot sooner than placing the garment in the dryer.
* In case the oil spot is still present, you can rub alcohol over it to get your clothes all new again. Remember that alcohol can also lift the color, so it’s better to test it in an inconspicuous spot before using.
Tips
* This method can be used on any and every type of fabric.
* Warm or hot water is always preferable for washing such fabric.
* Ensure you scrape off all powder from the fabric before dry cleaning.
* Dish detergent can be utilized for washing since molecules in such liquids are prepared to trap oil.
* The earlier you deal with an oil stain; the better would be the outcom"
I have used this method before. But I also used heat. In layers, cloth/cornstarch/bandanna then hot iron.
EDIT: Also used dish detergent and a toothbrush to brush stain.