Oilinvest own the Tamoil chain of service stations whose name appears on the shirts of the Serie B side. Juventus, one of the biggest names in world soccer, were relegated after a probe into match-fixing last season out of Serie A.
The punishment prompted Oilinvest to terminate its existing EUR110m five-year deal it has agreed in early 2005.
Talks about a new sponsorship deal have taken place but no renewal deal has been struck so far, claim the reports.
However, the club says it will continue to wear the Tamoil brand on its shirts for the remainder of the season.
