<SEC-DOCUMENT>0001752724-21-039931.txt : 20210225
<SEC-HEADER>0001752724-21-039931.hdr.sgml : 20210225
<ACCEPTANCE-DATETIME>20210225113754
ACCESSION NUMBER:		0001752724-21-039931
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20201231
FILED AS OF DATE:		20210225
PERIOD START:           	20201231

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BlackRock Energy & Resources Trust
		CENTRAL INDEX KEY:			0001306550
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21656
		FILM NUMBER:		21677992

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		888-825-2257

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BlackRock Global Energy & Resources Trust
		DATE OF NAME CHANGE:	20041020
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      <repPdEnd>2020-12-31</repPdEnd>
      <repPdDate>2020-12-31</repPdDate>
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      <totLiabs>8656981.23</totLiabs>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
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        <title>KINDER MORGAN INC JAN21 15 CALL</title>
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        <fairValLevel>1</fairValLevel>
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            <putOrCall>Call</putOrCall>
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                <issuerName>Kinder Morgan Inc</issuerName>
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        <name>Options Clearing Corp.</name>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Options Clearing Corp.</counterpartyName>
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        <name>Hess Corp</name>
        <lei>UASVRYNXNK17ULIGK870</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BP PLC</name>
        <lei>213800LH1BZH3DI6G760</lei>
        <title>BP PLC</title>
        <cusip>000000000</cusip>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>KINDER MORGAN INC JAN21 15.5 CALL</title>
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        <curCd>USD</curCd>
        <valUSD>-2763.00000000</valUSD>
        <pctVal>-0.00116070959</pctVal>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>Options Clearing Corp.</counterpartyName>
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            <shareNo>100.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>18413.44000000</unrealizedAppr>
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      <invstOrSec>
        <name>Valero Energy Corp</name>
        <lei>549300XTO5VR8SKV1V74</lei>
        <title>Valero Energy Corp</title>
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          <isin value="US91913Y1001"/>
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        <balance>94572.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5349938.04000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Marathon Petroleum Corp</name>
        <lei>3BNYRYQHD39K4LCKQF12</lei>
        <title>Marathon Petroleum Corp</title>
        <cusip>56585A102</cusip>
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          <isin value="US56585A1025"/>
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        <balance>30788.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1273391.68000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Schlumberger NV</name>
        <lei>213800ZUA17OK3QLGM62</lei>
        <title>Schlumberger NV</title>
        <cusip>000000000</cusip>
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          <isin value="AN8068571086"/>
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        <balance>87167.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1902855.61000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JP MORGAN CHASE BANK</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>BRWAVWFP7 JAN21 STO AU CALL JAN21 6.188 CALL</title>
        <cusip>000000000</cusip>
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          <other otherDesc="BlackRock Identifier" value="BRWAVWFP7"/>
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        <balance>-245700.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.29710100"/>
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        <pctVal>-0.01827970155</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>JP MORGAN CHASE BANK</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>Santos Ltd</issuerName>
                <issueTitle>Santos Ltd</issueTitle>
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            <shareNo>1.00000000</shareNo>
            <exercisePrice>6.18800000</exercisePrice>
            <exercisePriceCurCd>AUD</exercisePriceCurCd>
            <expDt>2021-01-13</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-4322.53000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EOG Resources Inc</name>
        <lei>XWTZDRYZPBUHIQBKDB46</lei>
        <title>EOG Resources Inc</title>
        <cusip>26875P101</cusip>
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          <isin value="US26875P1012"/>
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        <balance>57634.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2874207.58000000</valUSD>
        <pctVal>1.207426820981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Williams Cos Inc/The</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos Inc/The</title>
        <cusip>969457100</cusip>
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        <balance>364401.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7306240.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>EXXON MOBIL CORP JAN21 42.5 CALL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="BlackRock Identifier" value="Z95283WA3"/>
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        <balance>-732.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-24156.00000000</valUSD>
        <pctVal>-0.01014770209</pctVal>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>Options Clearing Corp.</counterpartyName>
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            <writtenOrPur>Written</writtenOrPur>
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              <otherRefInst>
                <issuerName>Exxon Mobil Corp</issuerName>
                <issueTitle>Exxon Mobil Corp</issueTitle>
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                  <isin value="US30231G1022"/>
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            <shareNo>100.00000000</shareNo>
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            <expDt>2021-01-08</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>60581.56000000</unrealizedAppr>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>CONCHO RESOURCES INC JAN21 61.5 CALL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="BlackRock Identifier" value="Z954R3UE2"/>
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        <balance>-105.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-12600.00000000</valUSD>
        <pctVal>-0.00529313820</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Options Clearing Corp.</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>Concho Resources Inc</issuerName>
                <issueTitle>Concho Resources Inc</issueTitle>
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            <shareNo>100.00000000</shareNo>
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            <expDt>2021-01-22</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>16695.85000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>PIONEER NATURAL RESOURCES CO JAN21 117 CALL</title>
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          <other otherDesc="BlackRock Identifier" value="Z9527U613"/>
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        <balance>-30.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-5775.00000000</valUSD>
        <pctVal>-0.00242602167</pctVal>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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                <issueTitle>Pioneer Natural Resources Co</issueTitle>
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            <shareNo>100.00000000</shareNo>
            <exercisePrice>117.00000000</exercisePrice>
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            <expDt>2021-01-08</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>10957.55000000</unrealizedAppr>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Royal Dutch Shell PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>Royal Dutch Shell PLC</title>
        <cusip>780259206</cusip>
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          <isin value="US7802592060"/>
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        <balance>745253.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26188190.42000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>BRWAGCKT4 JAN21 BP. LN CALL JAN21 2.1351 CALL</title>
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        <balance>-596500.00000000</balance>
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        <assetCat>DE</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>BP PLC</issuerName>
                <issueTitle>BP PLC</issueTitle>
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            <shareNo>1.00000000</shareNo>
            <exercisePrice>2.13510000</exercisePrice>
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            <expDt>2021-01-07</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-246661.85000000</unrealizedAppr>
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      <invstOrSec>
        <name>Enbridge Inc</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CA29250N1050"/>
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        <balance>152200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.27290000"/>
        <valUSD>4867673.82000000</valUSD>
        <pctVal>2.044862718669</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CREDIT SUISSE INTERNATIONAL</name>
        <lei>E58DKGMJYYYJLN8C3868</lei>
        <title>BRWCG86S7 JAN21 BP. LN CALL JAN21 2.8623 CALL</title>
        <cusip>000000000</cusip>
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          <other otherDesc="BlackRock Identifier" value="BRWCG86S7"/>
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        <balance>-373200.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.73126100"/>
        <valUSD>-9172.03000000</valUSD>
        <pctVal>-0.00385308114</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>CREDIT SUISSE INTERNATIONAL</counterpartyName>
              <counterpartyLei>E58DKGMJYYYJLN8C3868</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>BP PLC</issuerName>
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        <name>Options Clearing Corp.</name>
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        <name>Options Clearing Corp.</name>
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        <name>Baker Hughes Co</name>
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        <name>TOTAL SE</name>
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        <name>Darling Ingredients Inc</name>
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        <name>Options Clearing Corp.</name>
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        <name>BlackRock Liquidity Funds</name>
        <lei>5493007YVNX55LTRQ706</lei>
        <title>BlackRock Liquidity Funds: T-Fund, Institutional Shares</title>
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        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <lei>N/A</lei>
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        <name>Chevron Corp</name>
        <lei>N/A</lei>
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        <name>MORGAN STANLEY &amp; CO. INTERNATIONAL</name>
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        <name>Santos Ltd</name>
        <lei>5299000RK70B5O2M7077</lei>
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        <name>The Montreal Exchange / Bourse De Montreal</name>
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        <name>Exxon Mobil Corp</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
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        <name>Options Clearing Corp.</name>
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        <name>JP MORGAN CHASE BANK</name>
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        <name>CREDIT SUISSE INTERNATIONAL</name>
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        <name>Options Clearing Corp.</name>
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        <name>Options Clearing Corp.</name>
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        <name>Kinder Morgan Inc</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan Inc</title>
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        <name>Canadian Natural Resources Ltd</name>
        <lei>549300T15RIMIKZC5Q38</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>NOMURA SECURITIES INTERNATIONAL INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>The Montreal Exchange / Bourse De Montreal</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>PETROLEO BRASILEIRO SA JAN21 9 CALL</title>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <unrealizedAppr>-105760.18000000</unrealizedAppr>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>CONCHO RESOURCES INC JAN21 61.5 CALL</title>
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        <valUSD>-15750.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <delta>XXXX</delta>
            <unrealizedAppr>18270.74000000</unrealizedAppr>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>CHEVRON CORP JAN21 90 CALL</title>
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        <balance>-584.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-37668.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>DARLING INGREDIENTS INC JAN21 50 CALL</title>
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        <units>NC</units>
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        <valUSD>-110970.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>PIONEER NATURAL RESOURCES CO JAN21 115 CALL</title>
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        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
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        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>ROYAL DUTCH SHELL PLC JAN21 27.5 CALL</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. INTERNATIONAL</name>
        <lei>4PQUHN3JPFGFNF3BB653</lei>
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        <balance>-44800.00000000</balance>
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        <invCountry>BV</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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                <issuerName>Aker BP ASA</issuerName>
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        <lei>549300LCJ1UJXHYBWI24</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>The Montreal Exchange / Bourse De Montreal</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <putOrCall>Call</putOrCall>
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      <invstOrSec>
        <name>Aker BP ASA</name>
        <lei>549300NFTY73920OYK69</lei>
        <title>Aker BP ASA</title>
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        <fairValLevel>2</fairValLevel>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>BRWAMPBT8 JAN21 FP FP CALL JAN21 35.6994 CALL</title>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <putOrCall>Call</putOrCall>
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                <issuerName>TOTAL SE</issuerName>
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            <delta>XXXX</delta>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oil Search Ltd</name>
        <lei>529900NIUGGGKB5VMO41</lei>
        <title>Oil Search Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="PG0008579883"/>
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        <balance>883663.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>PG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>PETROLEO BRASILEIRO SA JAN21 11.5 CALL</title>
        <cusip>000000000</cusip>
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        <balance>-329.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-14969.50000000</valUSD>
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        <assetCat>DE</assetCat>
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        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Options Clearing Corp.</counterpartyName>
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                <issuerName>Petroleo Brasileiro SA</issuerName>
                <issueTitle>Petroleo Brasileiro SA</issueTitle>
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            <shareNo>100.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>6419.72000000</unrealizedAppr>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>CONOCOPHILLIPS JAN21 42.5 CALL</title>
        <cusip>000000000</cusip>
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          <other otherDesc="BlackRock Identifier" value="Z95278JE0"/>
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        <balance>-60.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1470.00000000</valUSD>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Options Clearing Corp.</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>ConocoPhillips</issuerName>
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            <shareNo>100.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>7695.65000000</unrealizedAppr>
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      <invstOrSec>
        <name>SUSQUEHANNA FINANCIAL GROUP LLLP</name>
        <lei>549300E8QX0ZMRDC2M81</lei>
        <title>BRWC976X6 JAN21 BKR US CALL JAN21 23.4 CALL</title>
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        <balance>-330.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-6503.64000000</valUSD>
        <pctVal>-0.00273211629</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>Baker Hughes Co</issuerName>
                <issueTitle>Baker Hughes Co</issueTitle>
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            <shareNo>100.00000000</shareNo>
            <exercisePrice>23.40000000</exercisePrice>
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            <expDt>2021-01-22</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>42099.08000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CREDIT SUISSE INTERNATIONAL</name>
        <lei>E58DKGMJYYYJLN8C3868</lei>
        <title>BRWARJ4G3 JAN21 BP. LN CALL JAN21 2.4493 CALL</title>
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        <identifiers>
          <other otherDesc="BlackRock Identifier" value="BRWARJ4G3"/>
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        <balance>-139500.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.73126100"/>
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        <assetCat>DE</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>CREDIT SUISSE INTERNATIONAL</counterpartyName>
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                <issuerName>BP PLC</issuerName>
                <issueTitle>BP PLC</issueTitle>
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            <shareNo>1.00000000</shareNo>
            <exercisePrice>2.44930000</exercisePrice>
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            <expDt>2021-01-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-3951.58000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>BRWAGCKK3 JAN21 GALP PL CALL JAN21 7.5426 CALL</title>
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        <balance>-68500.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>GOLDMAN SACHS INTERNATIONAL</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>Galp Energia SGPS SA</issuerName>
                <issueTitle>Galp Energia SGPS SA</issueTitle>
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                  <isin value="PTGAL0AM0009"/>
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            <shareNo>1.00000000</shareNo>
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            <expDt>2021-01-07</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-73335.36000000</unrealizedAppr>
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      <invstOrSec>
        <name>Equinor ASA</name>
        <lei>OW6OFBNCKXC4US5C7523</lei>
        <title>Equinor ASA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0010096985"/>
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        <balance>282500.00000000</balance>
        <units>NS</units>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>SCHLUMBERGER NV JAN21 23 CALL</title>
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          <other otherDesc="BlackRock Identifier" value="Z9551YQ38"/>
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        <balance>-340.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-25500.00000000</valUSD>
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        <fairValLevel>1</fairValLevel>
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                <issuerName>Schlumberger NV</issuerName>
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            <expDt>2021-01-29</expDt>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>WILLIAMS COS INC/THE JAN21 21 CALL</title>
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        <curCd>USD</curCd>
        <valUSD>-2109.00000000</valUSD>
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            <expDt>2021-01-15</expDt>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>BRWBTECU0 JAN21 BP. LN CALL JAN21 2.7449 CALL</title>
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        <balance>-570000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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                <issueTitle>BP PLC</issueTitle>
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            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>2.74490000</exercisePrice>
            <exercisePriceCurCd>GBP</exercisePriceCurCd>
            <expDt>2021-01-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>63550.15000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>ROYAL DUTCH SHELL PLC JAN21 40 CALL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="BlackRock Identifier" value="Z943HM783"/>
        </identifiers>
        <balance>-705.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-7050.00000000</valUSD>
        <pctVal>-0.00296163685</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Options Clearing Corp.</counterpartyName>
              <counterpartyLei>549300CII6SLYGKNHA04</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Royal Dutch Shell PLC</issuerName>
                <issueTitle>Royal Dutch Shell PLC</issueTitle>
                <identifiers>
                  <cusip value="780259206"/>
                  <isin value="US7802592060"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>40.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2021-01-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>79496.88000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>PIONEER NATURAL RESOURCES CO JAN21 105 CALL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="BlackRock Identifier" value="Z943JPBW6"/>
        </identifiers>
        <balance>-190.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-190950.00000000</valUSD>
        <pctVal>-0.08021624919</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Options Clearing Corp.</counterpartyName>
              <counterpartyLei>549300CII6SLYGKNHA04</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Pioneer Natural Resources Co</issuerName>
                <issueTitle>Pioneer Natural Resources Co</issueTitle>
                <identifiers>
                  <cusip value="723787107"/>
                  <isin value="US7237871071"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>105.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2021-01-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-103381.23000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>CONOCOPHILLIPS JAN21 44.5 CALL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="BlackRock Identifier" value="Z954R21L0"/>
        </identifiers>
        <balance>-103.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-4686.50000000</valUSD>
        <pctVal>-0.00196875334</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Options Clearing Corp.</counterpartyName>
              <counterpartyLei>549300CII6SLYGKNHA04</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>ConocoPhillips</issuerName>
                <issueTitle>ConocoPhillips</issueTitle>
                <identifiers>
                  <cusip value="20825C104"/>
                  <isin value="US20825C1045"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>44.50000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2021-01-22</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>19257.59000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ConocoPhillips</name>
        <lei>WPTL2Z3FIYTHSP5V2253</lei>
        <title>ConocoPhillips</title>
        <cusip>20825C104</cusip>
        <identifiers>
          <isin value="US20825C1045"/>
        </identifiers>
        <balance>273189.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10924828.11000000</valUSD>
        <pctVal>4.589414684735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>BRWBXQBC9 JAN21 GALP PL CALL JAN21 9.58 CALL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="BlackRock Identifier" value="BRWBXQBC9"/>
        </identifiers>
        <balance>-115500.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.81856500"/>
        <valUSD>-29744.15000000</valUSD>
        <pctVal>-0.01249522989</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
              <counterpartyLei>G5GSEF7VJP5I7OUK5573</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Galp Energia SGPS SA</issuerName>
                <issueTitle>Galp Energia SGPS SA</issueTitle>
                <identifiers>
                  <isin value="PTGAL0AM0009"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>9.58000000</exercisePrice>
            <exercisePriceCurCd>EUR</exercisePriceCurCd>
            <expDt>2021-01-27</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>5186.86000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2021-01-28</ncom:dateSigned>
      <ncom:nameOfApplicant>BlackRock Energy and Resources Trust</ncom:nameOfApplicant>
      <ncom:signature>Ann Frechette</ncom:signature>
      <ncom:signerName>Ann Frechette</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
