On balance, it would be incorrect to classify Norway as a "Socialist" country. Despite high rates of taxation, and some major industries owned by government, Norway has a very high rating of economic freedom according to the Index of Economic Freedom as published by the Heritage Foundation.
2011 Index of Economic Freedom, -- Heritage Foundation
http://www.heritage.org/index/country/norway
Norway’s economic freedom score is 70.3, making its economy the 30th freest in the 2011 Index. Its score has increased by 0.9 point since last year, mainly reflecting a considerable gain in freedom from corruption. Norway is ranked 16th out of 43 countries in the Europe region, and its overall score is well above the world and regional averages...
The modern and competitive Norwegian economy has long benefited from its relatively high levels of economic freedom...
The state maintains substantial ownership in many key industries, including enterprises in manufacturing, telecommunications, hydroelectric power, and transportation.