Norway have few people, and shedloads of oil being extracted by the state I think.. yes?
Not really no. We had way more oil and gas than Norway did but they built up a sovereign wealth fund whereas we pissed it away in the 80s. The states stakeholding in oil companies isn't really relevant either. The Tax the UK government gets on PRT liable fields in the UK is currently 81% and for non PRT liable ones is 62% so the UK gets the lions share of wealth even though it doesn't operate the fields. N.B the UK government still owns the oil in the ground.