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Brazilian Oil firm Petrobas is looking at linking up with Toro Rossso from next year.
The company already sponsors Williams, but due to the British team's engine supply deal with Mercedes, they actually use Petronas oils and fuels.
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Likewise, despite Toro Rosso's current deal with Cepsa, the Italian team currently uses Shell products by virtue of their engine agreement with Ferrari.
Petrobas executives have reportedly already met with Toro Rosso and Renault, Toro Rosso's 2017 engine supplier.
"It is crucial that there is an agreement with (engine supplier) Renault before discussing the details with Toro Rosso," read the media report.
Petrobras has not actually had their products used in Formula One since 2008, meaning significant work must be done before their full return.
Additionally, any potential deal with Toro Rosso would not end the agreement with Williams, with Petrobas looking to extend their agreement with the team.
"The tentative agreement with Toro Rosso does not signal the end of the partnership with Williams," UOL declared. "On the contrary, Petrobras is seeking the renewal of the contract that expires at the end of 2016."
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