REFILE-WRAPUP 2-Total, Statoil profits plummet on cheaper oil

(Corrects spelling of plummet in headline; adds explanatory line on update at beginning of text)

* Total Q3 adjusted net income down 54 pct to 1.87 bln euros

* Statoil Q3 adjusted net income down 40 pct to NOK 9.3 bln

* Promise cost cuts

* Production rises, gearing drops

* Total shares up 0.3 pct; Statoil up 2.3 percent

(Adds further detail on cost cuts)

By Tom Bergin

LONDON, Nov 4 (Reuters) - France's Total (TOTF.PA: Quote, Profile, Research) and Norwegian rival Statoil (STL.OL: Quote, Profile, Research) have added to the downbeat tone from the oil industry, promising to tackle a tough environment with cost cuts as they announced big drops in third-quarter profit.