UPDATE 2-Statoil lifts exploration target as earnings, output up

Newswire

* Adjusted EBIT NOK 40.4 bln vs NOK 39.5 bln forecast * Equity production 1.852 mln barrels per day vs 1.84 mln forecast (Adds CEO, analyst, shares, US market) By Balazs Koranyi and Henrik Stolen OSLO, Oct 30 (Reuters) - Energy major Statoil emphasized a focus on profits over volumes, even while managing to beat forecasts for both earnings and output in the third quarter and raising its target for spending on exploration. ...

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