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Dan Healing The Keystone Steele City pumping station, into which the planned Keystone XL pipeline was to connect into, in Steele City, Neb., Nov. 3, 2015. TC Energy Corp. is reporting a first-quarter net loss of $1.1 billion after taking a $2.2-billion after-tax asset impairment charge on its cancelled Keystone XL export oil pipeline. THE CANADIAN PRESS/AP-Nati Harnik May 07, 2021 - 2:09 PM CALGARY - TC Energy Corp. is reporting a first-quarter net loss of $1.1 billion after taking a $2.2-billion after-tax asset impairment charge on its cancelled Keystone XL export oil pipeline. The charge is net of expected cash recoveries from contracted shippers and a sale of recoverable pipeline assets, but will eventually be further reduced by recoveries from the government of Alberta s investment and loan guarantees for the project, the Calgary-based company said.

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