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Comes as company plans to expand production

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Resolution calls for it align capex with Paris Agreement

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Major owner Norway has rejected all climate resolutions so

far

By Nerijus Adomaitis and Simon Jessop

OSLO, April 22 (Reuters) - Investors have filed a

resolution at Norwegian oil company Equinor ( EQNR ), majority

owned by the government, to bring its strategy and capital

spending into line with the Paris Agreement on climate.

The move is the latest in the current annual general meeting

season after several oil and gas companies scaled back climate

ambitions in the face of an energy crisis and high prices.

Among those to change tack include Britain's Shell,

while U.S.-based ExxonMobil ( XOM ) is suing investors who asked

it to cut emissions faster, drawing a fresh resolution calling

for the removal of the chief executive.

The Equinor ( EQNR ) resolution also underlines Norway's dual

position as a major oil and gas exporter that wants to continue

producing fossil fuels while at the same time being active

diplomatically to cut global greenhouse gas emissions.

The government, which holds a 67% stake in Equinor ( EQNR ), has

voted against all climate resolutions proposed by the company's

minority shareholders so far.

Filed by a group of small investors, led by UK-based Sarasin

& Partners and seen by Reuters, the resolution calls on Equinor ( EQNR )

to update its strategy and capital spending plan.

"The updated (capital expenditure) plan should specify how

any plans for new oil and gas reserve development are consistent

with the Paris Agreement goals," the resolution says.

In February, Equinor ( EQNR ) said it would aim to sustain domestic

oil and gas output between 2020 and 2035, while its

international output is set to rise by 15% between 2024 and

2030.

It also plans to drill 20-30 exploration wells per year off

Norway to discover more resources, and to develop new fields

abroad, including in Canada, Tanzania and Brazil.

The shareholders behind the resolution said such plans were

not in line with the Paris Agreement and based on overly

optimistic oil price assumptions.

The centre-left government says Norway should continue

producing petroleum with the lowest emissions possible as long

as there is demand, and also due to Europe's energy security

needs.

Last year, the government said it expected Equinor ( EQNR ) to reduce

greenhouse gas emissions in line with the Paris Agreement, but

its board, not the general meeting, should decide the strategy.