UPDATE 1-Eni cuts output forecast, Q3 in line

* Cuts output forecast for 2009

* Q3 adj net profit in line with consensus

* Q3 hydrocarbon production falls on gas vols, Nigeria

(Adds detail, background)

MILAN, Oct 29 (Reuters) - Italian oil and gas group Eni SpA (ENI.MI) cut its full-year output forecast on Thursday and said third-quarter adjusted net profit fell 60.5 percent on lower oil prices and refining margins.

Hydrocarbon production in the third quarter fell 4.9 percent to 1.68 million barrels of oil equivalent per day (boepd) due to a decline in gas volumes, OPEC cuts and lower production in Nigeria, Eni said in a statement on Thursday.

Eni said it now expects hydrocarbon output for the full year to be in line with the 1.797 million boepd in 2008. In its first-half results it said it expected output to grow for the full year.

Eni's third-quarter adjusted net profit came in at 1.15 billion euros compared with a Thomson Reuters I/B/E/S consensus of 1.11 billion.

On Wednesday ConocoPhillips (COP.N) reported a 71 percent fall in third-quarter profit on weak demand for fuel but the results exceeded estimates. [ID:nN28295910]

On Tuesday BP Plc (BP.L) beat third-quarter earnings forecasts by a big margin with cost cuts ahead of targets and oil and gas output up strongly [ID:nLQ683027]

Royal Dutch Shell Plc (RDSa.L) is due to release results on Thursday morning.

Eni, the world's seventh-largest listed oil company in terms of daily production, will hold a conference call on the results later today. (Reporting by Stephen Jewkes; Editing by David Holmes)