UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number:           811-21656          

          BlackRock Global Energy and Resources Trust          
(Exact name of registrant as specified in charter)

100 Bellevue Parkway, Wilmington, DE 
19809 


(Address of principal executive offices) 
(Zip code) 

Robert S. Kapito, President
BlackRock Global Energy and Resources Trust
                                        40 East 52nd Street, New York, NY 10022                                        
(Name and address of agent for service)

Registrant's telephone number, including area code:          888-825-2257                    

Date of fiscal year end:          October 31, 2006
Date of reporting period:         January 31, 2006

Item 1. Schedule of Investments.

The Registrant’s unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:

PORTFOLIO OF INVESTMENTS
JANUARY 31, 2006 (
unaudited)


BlackRock Global Energy and Resources Trust (BGR)

       
       
Shares   Description   Value  

    LONG-TERM INVESTMENTS—95.0%    
    Common Stocks—95.0%    
    Australia—1.0%    
234,300   BHP Billiton Ltd. (ADR) $ 9,243,135  

    Bermuda—3.0%    
800,000   Aries Maritime Transport Ltd.   10,400,000  
78,100 1 Nabors Industries Ltd.   6,345,625  
606,000   Ship Finance International Ltd.   11,065,560  

    Total Bermuda   27,811,185  

    Brazil—0.8%    
82,500   Petroleo Brasileiro SA (ADR)   7,796,250  

    Canada—25.5%    
451,400   AltaGas Income Trust   11,956,225  
32,336 1 AltaGas Utility Group, Inc.   258,336  
605,800   ARC Energy Trust   14,418,364  
459,200   Baytex Energy Trust   7,978,199  
282,800   Bonavista Energy Trust   9,620,736  
121,600   Canadian Natural Resources Ltd.   7,539,200  
309,800 1 Compton Petroleum Corp.   5,121,403  
1,125,000   Duke Energy Income Fund   11,802,599  
646,900   Fairborne Energy Ltd.   9,069,833  
215,417 1 Fairquest Energy Ltd.   1,626,431  
450,300   Focus Energy Trust   9,887,189  
205,800   Fording Canadian Coal Trust   8,400,756  
234,040   Harvest Energy Trust   7,645,519  
134,700   Husky Energy, Inc.   8,455,336  
780,300   Keyera Facilities Income Fund   16,509,574  
349,400   Paramount Energy Trust   6,748,431  
265,500   Pembina Pipeline Income Fund   3,871,608  
481,400   Penn West Energy Trust   17,682,960  
204,200   Precision Drilling Corp.   6,846,826  
111,054   PrimeWest Energy Trust   3,608,144  
869,400   Progress Energy Trust   13,624,327  
199,800 1 Savanna Energy Services   5,446,460  
163,900   Talisman Energy, Inc.   9,986,427  
241,200 1 Trican Well Service Ltd.   12,751,911  
560,800   Trinidad Energy Services Income Trust   9,403,696  
399,900   Vermilion Energy Trust   10,795,773  
258,500   Zargon Energy Trust   6,869,580  

    Total Canada   237,925,843  

    Cayman Islands—0.6%    
87,100   GlobalSantaFe Corp.   5,317,455  

    Denmark—0.6%    
600   AP Moller - Maersk A/S   5,977,973  

    France—1.1%    
47,892   Technip SA   3,253,169  
52,000   Total SA (ADR)   7,193,160  

    Total France   10,446,329  

    Italy—0.6%    
267,500   Saipem SpA   5,327,636  

    Luxembourg—1.3%    
82,400 1 Stolt Offshore SA   1,040,436  
145,000 1 Stolt Offshore SA (ADR)   1,842,950  
54,869   Tenaris SA (ADR)   8,913,469  

    Total Luxembourg   11,796,855  

    Netherlands—1.1%    
81,800 1 Core Laboratories NV   3,646,644  

1



BlackRock Global Energy and Resources Trust (BGR) (continued)

       
       
Shares   Description   Value  

    Common Stocks—(cont’d)    
    Netherlands—(cont’d)    
62,200   SBM Offshore NV $ 6,307,374  

    Total Netherlands   9,954,018  

    Norway—1.8%    
33,600   Norsk Hydro ASA   4,123,861  
453,400   Statoil ASA (ADR)   12,554,646  

    Total Norway   16,678,507  

    United Kingdom—1.2%    
730,273   BG Group PLC   8,249,691  
46,279 2 BP PLC (ADR)   3,346,434  

    Total United Kingdom   11,596,125  

    United States—56.4%    
43,900 2 Amerada Hess Corp.   6,795,720  
221,600 2 Arch Coal, Inc.   19,217,152  
217,900 2 Atmos Energy Corp.   5,726,412  
321,900   Chesapeake Energy Corp.   11,279,376  
66,006 1,3 CNX Gas Corp.   1,590,600  
309,600   Consol Energy, Inc.   22,569,840  
99,700 2 Diamond Offshore Drilling, Inc.   8,461,539  
80,300 2 Dominion Resources, Inc.   6,065,059  
725,000   Double Hull Tankers, Inc.   9,874,500  
368,900   EL Paso Corp.   4,965,394  
176,900   EnCana Corp.   8,820,234  
664,500   Energy Transfer Partners LP   25,237,710  
190,500   Enerplus Resources Fund   10,135,025  
114,800   ENSCO International, Inc.   5,868,576  
687,505   Enterprise Products Partners LP   17,373,252  
319,600   EOG Resources, Inc.   27,018,984  
72,400   Exxon Mobil Corp.   4,543,100  
141,300 1 Grant Prideco, Inc.   7,077,717  
181,900 1 Hercules Offshore, Inc.   6,513,839  
186,800   ITC Holdings Corp.   5,080,960  
88,400   Kerr-McGee Corp.   9,758,476  
518,096 1 Kinder Morgan Management LLC   23,495,675  
786,600 2 Magellan Midstream Partners LP   25,399,314  
401,800   Massey Energy Co.   16,574,250  
128,500 1 McDermott International, Inc.   6,682,000  
150,058 1 National-Oilwell Varco, Inc.   11,414,912  
350,485   Natural Resource Partners LP   18,919,180  
202,300 1 Newfield Exploration Co.   10,600,520  
90,800   Noble Corp.   7,303,952  
204,300   Noble Energy, Inc.   9,455,004  
179,400   Northern Border Partners LP   7,992,270  
168,100   Patterson-UTI Energy, Inc.   6,323,922  
233,300   Peabody Energy Corp.   23,215,683  
332,500   Penn Virginia Resource Partner   20,482,000  
60,000   PG&E Corp.   2,238,600  
565,300   Plains All American Pipeline LP   24,132,657  
87,000   Questar Corp.   7,088,760  
32,100   Schlumberger Ltd.   4,091,145  
101,300   Suncor Energy, Inc.   8,116,156  
389,900   TEPPCO Partners LP   14,445,795  
232,900 1 Transocean, Inc.   18,899,835  
343,300   Valero LP   17,590,692  
270,824 1 Weatherford International Ltd.   12,127,499  

2



BlackRock Global Energy and Resources Trust (BGR) (continued)

       
       
Shares   Description   Value  

    Common Stocks—(cont’d)    
    United States—(cont’d)    
 270,100   Williams Cos., Inc.   $ 6,439,184  

    Total United States   527,002,470  

    Total Common Stocks (cost $680,479,937)   886,873,781  

    SHORT-TERM INVESTMENTS—5.2%    
    Money Market Fund—0.1%    
 1,515,550   Fidelity Institutional Money Market Prime Portfolio   1,515,550  

Principal        
Amount        

    U.S. Government and Agency Zero Coupon Bond—5.1%    
$48,000,000
4 Federal Home Loan Bank, 4.34%, 02/01/06   48,000,000  

    Total Short-Term Investments (cost $49,515,550)   49,515,550  


Contracts
       

    OUTSTANDING CALL OPTION PURCHASED—0.0%    
100   Tenaris SA, strike price $160, expires 03/18/06 (cost $119,370)   134,000  

    Total investments before outstanding options written—100.3% (cost $730,114,8575)   936,523,331  

    OUTSTANDING OPTIONS WRITTEN—(1.1)%    
    OUTSTANDING CALL OPTIONS WRITTEN—(1.1)%    
(175)   Amerada Hess Corp., strike price $145, expires 02/18/06   (197,750)  
(175)   Amerada Hess Corp., strike price $150, expires 02/18/06   (133,000)  
(375)   Arch Coal, Inc., strike price $85, expires 2/18/06   (142,500)  
(375)   Arch Coal, Inc., strike price $85, expires 04/22/06   (288,750)  
(150)   BG Group PLC, strike price 6 GBP, expires 03/17/06   (134,760)  
(150)   BG Group PLC, strike price 6.50 GBP, expires 03/17/06   (56,706)  
(500)   BHP Billiton Ltd., strike price $35, expires 02/18/06   (245,000)  
(200)   BHP Billiton Ltd., strike price $40, expires 02/18/06   (19,000)  
(471)   BHP Billiton Ltd., strike price $40, expires 03/18/06   (68,295)  
(450)   BP PLC, strike price $70, expires 2/18/06   (137,250)  
(150)   Canadian Natural Resources Ltd., strike price $55, expires 02/18/06   (111,000)  
(308)   Canadian Natural Resources Ltd., strike price $60, expires 03/18/06   (132,440)  
(250)   Chesapeake Energy Corp., strike price $35, expires 02/18/06   (31,250)  
(75,000)   Chesapeake Energy Corp., strike price $36.08, expires 03/17/06   (130,650)  
(250)   Chesapeake Energy Corp., strike price $40, expires 04/22/06   (22,500)  
(250)   Consol Energy, Inc., strike price $75, expires 04/22/06   (110,000)  
(250)   Consol Energy, Inc., strike price $72.50, expires 02/10/06   (49,000)  
(226)   Consol Energy, Inc., strike price $75, expires 03/18/06   (63,280)  
(250)   Consol Energy, Inc., strike price $80, expires 04/22/06   (63,125)  
(26,000)   Core Laboratories NV, strike price $43.65, expires 03/31/06   (73,481)  
(25,000)   Core Laboratories NV, strike price $46.16, expires 03/31/06   (36,250)  
(111)   Diamond Offshore Drilling, Inc., strike price $80, expires 02/18/06   (54,390)  
(260)   Diamond Offshore Drilling, Inc., strike price $85, expires 03/18/06   (104,000)  
(200)   Dominion Resources, Inc., strike price $85, expires 04/22/06   (4,000)  
(425)   Dominion Resources, Inc., strike price $85, expires 07/22/06   (34,000)  
(400)   El Paso Corp., strike price $14, expires 04/22/06   (24,000)  
(400)   EnCana Corp., strike price $50, expires 02/18/06   (63,000)  
(350)   ENSCO International, Inc., strike price $50, expires 02/18/06   (91,000)  
(500)   EOG Resources, Inc., strike price $85, expires 02/18/06   (160,000)  
(300)   EOG Resources, Inc., strike price $85, expires 04/22/06   (195,000)  
(200)   EOG Resources, Inc., strike price $90, expires 02/18/06   (23,000)  
(500)   Exxon Mobil Corp., strike price $62.50, expires 02/18/06   (72,500)  
(200)   Fording Canadian Coal Trust, strike price $40, expires 02/18/06   (42,000)  
(395)   Fording Canadian Coal Trust, strike price $41.63, expires 03/18/06   (79,100)  
(254)   GlobalSantaFe Corp., strike price $60, expires 03/18/06   (76,200)  
(400)   Grant Prideco, Inc., strike price $47.50, expires 02/10/06   (118,800)  
(100)   Grant Prideco, Inc., strike price $50, expires 02/18/06   (20,600)  
(150)   Husky Energy, Inc., strike price 66 CAD, expires 02/18/06   (73,416)  
(250)   Husky Energy, Inc., strike price 68 CAD, expires 03/18/06   (112,484)  
(100)   Kerr-McGee Corp., strike price $100, expires 02/18/06   (109,000)  
(174)   Kerr-McGee Corp., strike price $105, expires 03/18/06   (140,940)  
(250)   Massey Energy Co., strike price $40, expires 02/18/06   (52,500)  

3



BlackRock Global Energy and Resources Trust (BGR) (continued)

       
       
Contracts   Description   Value  

    OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)    
(750)   Massey Energy Co., strike price $45, expires 04/22/06 $ (123,750)  
(250)   Massey Energy Co., strike price $50, expires 04/22/06   (13,750)  
(204)   McDermott International, Inc., strike price $50, expires 03/18/06   (85,680)  
(250)   McDermott International, Inc., strike price $55, expires 05/20/06   (96,250)  
(100)   Nabors Industries Ltd., strike price $80, expires 02/18/06   (37,000)  
(200)   Nabors Industries Ltd., strike price $80, expires 03/18/06   (104,000)  
(350)   National-Oilwell Varco, Inc., strike price $70, expires 02/18/06   (238,000)  
(150)   National-Oilwell Varco, Inc., strike price $70, expires 05/20/06   (157,500)  
(150)   National-Oilwell Varco, Inc., strike price $75, expires 02/18/06   (51,000)  
(96)   National-Oilwell Varco, Inc., strike price $75, expires 03/18/06   (55,680)  
(200)   Newfield Exploration Co., strike price $55, expires 02/18/06   (15,500)  
(250)   Newfield Exploration Co., strike price $55, expires 03/18/06   (47,500)  
(200)   Noble Corp., strike price $80, expires 02/18/06   (60,000)  
(100)   Noble Corp., strike price $85, expires 03/18/06   (27,000)  
(181)   Noble Energy, Inc., strike price $45, expires 03/18/06   (57,920)  
(400)   Noble Energy, Inc., strike price $47.50, expires 02/18/06   (36,000)  
(8,400)   Norsk Hydro ASA, strike price 832.30 NOK, expires 03/24/06   (35,514)  
(250)   Patterson-UTI Energy, Inc., strike price $37.50, expires 02/18/06   (30,000)  
(233)   Patterson-UTI Energy, Inc., strike price $37.50, expires 03/18/06   (53,590)  
(910)   Peabody Energy Corp., strike price $40, expires 03/18/06   (1,847,300)  
(250)   Peabody Energy Corp., strike price $80, expires 02/18/06   (457,500)  
(100)   Petroleo Brasileiro SA, strike price $80, expires 2/18/06   (118,000)  
(162)   Petroleo Brasileiro SA, strike price $85, expires 03/18/06   (183,060)  
(600)   PG&E Corp., strike price $40, expires 03/18/06   (6,000)  
(200)   Precision Drilling Corp., strike price $35, expires 02/18/06   (6,000)  
(200)   Precision Drilling Corp., strike price $35, expires 03/18/06   (56,000)  
(250)   Questar Corp., strike price $90, expires 02/18/06   (3,125)  
(100)   Questar Corp., strike price $90, expires 04/22/06   (14,250)  
(50,000)   Savanna Energy Services, strike price 32.66 CAD, expires 03/31/06   (72,912)  
(225)   SBM Offshore NV, strike price 72 EUR, expires 02/17/06   (316,472)  
(100)   Schlumberger Ltd., strike price $100, expires 02/18/06   (276,000)  
(100,000)   Statoil ASA, strike price 165 NOK, expires 02/16/06   (277,458)  
(250)   Stolt Offshore SA, strike price $12.50, expires 02/18/06   (17,500)  
(125)   Stolt Offshore SA, strike price $12.50, expires 05/20/06   (25,000)  
(250)   Stolt Offshore SA, strike price $15, expires 05/20/06   (18,125)  
(200)   Suncor Energy, Inc., strike price $70, expires 03/18/06   (230,000)  
(164)   Suncor Energy, Inc., strike price $75, expires 03/18/06   (124,640)  
(250)   Talisman Energy, Inc., strike price $60, expires 02/18/06   (66,250)  
(200)   Talisman Energy, Inc., strike price $65, expires 02/18/06   (12,000)  
(200)   Tenaris SA, strike price $170, expires 03/18/06   (120,000)  
(100)   Total SA, strike price $140, expires 02/18/06   (19,500)  
(200)   Total SA, strike price $145, expires 05/20/06   (76,000)  
(450)   Transocean, Inc., strike price $75, expires 02/18/06   (315,000)  
(300)   Transocean, Inc., strike price $85, expires 03/18/06   (84,000)  
(500)   Weatherford International Ltd., strike price $37.50, expires 02/18/06   (375,000)  
(250)   Weatherford International Ltd., strike price $40, expires 02/18/06   (132,500)  
(218)   Weatherford International Ltd., strike price $45, expires 03/18/06   (50,140)  
(750)   Williams Cos., Inc., strike price $25, expires 02/18/06   (22,500)  

    Total Outstanding Call Options Written (premium received $5,608,727)   (10,543,783)  

    OUTSTANDING PUT OPTIONS WRITTEN—0.0%    
(100)   Amerada Hess Corp., strike price $135, expires 02/18/06   (3,000)  
(180)   Arch Coal, Inc., strike price $80, expires 02/18/06   (18,000)  
(150)   Canadian Natural Resources Ltd., strike price $50, expires 03/18/06   (6,750)  
(200)   Chesapeake Energy Corp., strike price $30, expires 02/18/06   (2,000)  
(100)   Diamond Offshore Drilling, Inc., strike price $70, expires 02/18/06   (2,000)  
(100)   Dominion Resources, Inc., strike price $75, expires 02/18/06   (8,500)  
(100)   EnCana Corp., strike price $40, expires 03/18/06   (2,000)  
(200)   ENSCO International, Inc., strike price $45, expires 03/18/06   (19,500)  
(200)   Exxon Mobil Corp., strike price $57.50, expires 02/18/06   (2,000)  
(200)   GlobalSantaFe Corp., strike price $50, expires 02/18/06   (3,000)  
(250)   Grant Prideco, Inc., strike price $45, expires 02/18/06   (10,000)  
(100)   Husky Energy, Inc., strike price 64 CAD, expires 02/18/06   (64,747)  
(100)   Kerr-McGee Corp., strike price $95, expires 02/18/06   (500)

4



BlackRock Global Energy and Resources Trust (BGR) (continued)

       
       
Contracts   Description   Value  

    OUTSTANDING PUT OPTIONS WRITTEN—(cont’d)    
(250)   Massey Energy Co., strike price $35, expires 02/18/06 $ (1,875)  
(500)   Massey Energy Co., strike price $35, expires 03/18/06   (22,500)  
(300)   Nabors Industries Ltd., strike price $75, expires 02/18/06   (16,500)  
(150)   National-Oilwell Varco, Inc., strike price $65, expires 02/18/06   (3,750)  
(250)   Newfield Exploration Co., strike price $45, expires 03/18/06   (13,125)  
(375)   Newmont Mining Corp., strike price $52.50, expires 02/18/06   (3,750)  
(250)   Newmont Mining Corp., strike price $52.50, expires 03/18/06   (13,750)  
(375)   Newmont Mining Corp., strike price $55, expires 2/18/06   (9,375)  
(100)   Noble Corp., strike price $72.50, expires 02/18/06   (4,500)  
(100)   Patterson-UTI Energy, Inc., strike price $32.50, expires 03/18/06   (5,250)  
(100)   Petroleo Brasileiro SA, strike price $75, expires 02/18/06   (1,750)  
(100)   Questar Corp., strike price $75, expires 02/18/06   (4,000)  
(100)   Schlumberger Ltd., strike price $110, expires 02/18/06   (2,500)  
(100)   Suncor Energy, Inc., strike price $70, expires 02/18/06   (3,500)  
(100)   Talisman Energy, Inc., strike price $55, expires 02/18/06   (2,750)  
(250)   Williams Cos., Inc., strike price $22.50, expires 02/18/06   (5,000)  
(100)   Williams Cos., Inc., strike price $22.50, expires 03/18/06   (7,500)  

    Total Outstanding Put Options Written (premium received $562,672)   (263,372)  

    Total outstanding options written (premium received $6,171,399)   (10,807,155)  

    Total investments net of outstanding options written—99.1%   $925,716,176  
    Other assets in excess of liabilities—0.9%   8,113,696  

    Net Assets—100.0%   $933,829,872  


   
 
    1 Non-income producing security.  
    2 Security, or a portion thereof, pledged as collateral for outstanding options written.  
    3 Illiquid security. As of January 31, 2006, the Trust held 0.2% of net assets, with a current market value of $1,590,600.  
    4 Rate shown is the yield to maturity as of January 31, 2006.  
    5 Cost for Federal income tax purposes is $735,231,151. The net unrealized appreciaton on a tax basis is $201,292,180, consisting of $210,929,087 gross unrealized appreciation and $9,636,907 gross unrealized depreciation. 

KEY TO ABBREVIATIONS
 
ADR  
CAD   
EUR    
GBP    
NOK   
—  American Depositary Receipts  
—  Canadian Dollar
—  Euro
—  British Pound
—  Norwegian Kroner

   5

Item 2. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers have evaluated the Registrant's disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a -3(d)) that occurred during the Registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3. Exhibits.

Separate certifications of the Registrant’s Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)      BlackRock Global Energy and Resources Trust     

By:      /s/ Henry Gabbay                                                                      
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: March 31, 2006

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:      /s/ Robert S. Kapito                                                                  
Name: Robert S. Kapito
Title: President and Principal Executive Officer
Date: March 31, 2006

By:      /s/ Henry Gabbay                                                                      
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: March 31, 2006