From yesterday's Stockwatch Energy Summary:

Pacific Rubiales and Ecopetrol hold the largest interests in the $4.2-billion (U.S.) Bicentenario pipeline, with 32.88 per cent and 55 per cent, respectively. Petrominerales Ltd. (PMG), up 10 cents to $6.16, holds 9.65 per cent, and Canacol Energy Ltd. (CNE), up nine cents to $2.90, holds 0.5 per cent. The 960-kilometre pipeline will carry Colombian oil for export to the U.S. Gulf Coast. It should start transporting 140,000 barrels a day in July, and up to 600,000 barrels a day once it is complete in 2016. Its size and timeline have led Canadian energy analysts to rethink their expectations for Alberta's oil sands. Yesterday, The Financial Post asked First Energy Capital analyst DarrenEngels whether rising Colombian production could displace Canadian crude in Gulf Coast refineries. "Absolutely it could," Mr. Engels replied. Explorers in Colombia are enjoying significant and rapid production increases. (Pacific Rubiales, Gran Tierra Energy Inc. (GTE: $6.03) and Petroamerica Oil Corp. (PTA: $0.25) are all producing at the high end of their 2013 guidance.) On top of that, Colombia's shipments to the United States are increasing, while Canada's have been falling because of transportation constraints. "Not knocking Canada too much," Mr. Engels delicately pointed out, "but Colombia ... actually built a pipeline."

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