UPDATE 1-Japan Cosmo Oil cuts Nov, Dec crude refining further

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TOKYO, Nov 5 (Reuters) - Japanese refiner Cosmo Oil Co (5007.T) said on Wednesday it has cut crude oil refining volume plans for November and December by an additional 3.5 percent, or 180,000 kilolitres (about 18,600 barrels per day).

Cosmo, Japan's fourth-biggest oil refiner, in September cut crude refining by 11 percent or 252,000 kl (53,000 bpd) from a year ago and had expected the refining volume between September and December to be down around 4 percent.

A number of rival refiners in Japan have also been curbing crude runs as an economic slowdown hurts demand in the world's third biggest oil consumer.

Japanese refiners are trying to boost oil product exports to compensate for weak demand at home.

But the refining margins for exports are projected to be narrower in the six months starting in October compared with the six months ended in September, Satoshi Miyamoto, Cosmo's managing director, told reporters on Wednesday during its announcement of its six-month earnings results.

Cosmo lowered its net profit forecast for the year ending next March by 5 billion yen ($50 million) to 19 billion yen, hurt in part by a 7.7 billion yen loss related to higher crude delivery costs following an oil leak from underseas pipes at its Chiba refinery earlier this year. ($1=99.83 Yen) (Reporting by Osamu Tsukimori)