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On a flier Oil services shares take off

Oilfield service company shares were lifted yesterday on the back of improving profits from offshore projects and a bullish forecast from Goldman Sachs. Banking conglomerate Goldman Sachs raised its earnings and share price expectations for several of the largest Oslo-listed offshore service contractors, prompting a buying spree in Norway. Shares in the Norwegian oil services companies Subsea 7, Petroleum Geo-Services, Prosafe and Acergy were all up in yesterday’s trading.

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