Image source: Getty Images TC Energy(TSX:TRP)(NYSE:TRP) is one of the largest midstream oil and gas companies in North America. It reported its results for the first quarter of 2021. The numbers were solid, but the effects were tempered after U.S. president Joe Biden canceled the Keystone XL pipeline permit, causing a hit to the company. Solid Q1 of 2021 TC Energy reported a net loss of $1.1 billion thanks to the asset impairment charges related to the formal suspension of the Keystone XL pipeline. However, when you take away the impact of the pipeline charges, comparable earnings for the first quarter were $1.1 billion, or $1.16 per common share.