I wouldn't say it "bases its entire economy on oil." If you're referring to their sovereign wealth fund [0], your statement is misleading since the fund was started with monies from Noway's own oil reserves, and the fund actively excludes companies on ethical grounds.

[0]: https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Nor...

22 percent of Norway's GDP and 67 percent of their exports are oil and gas. That's a petrostate.

Norway has started steering away from fossil fuels already: https://www.theguardian.com/world/2019/mar/08/norways-1tn-we...

You are a bit harsh on a country that generates 98% of its electricity through renewable energy.

Yup, and they can afford that because they sell oil and gas to others.

Nah, because of low density and tons of mountains (it is hydroelectricity mostly)

BTW, dropping oil and gas investment (which is not what this article is about yet, as it seems to impact mostly coal) has been on their agenda since 2017: https://www.bbc.co.uk/news/business-42011995

Saudi Arabia would be a better example. Norway isn't all about oil anymore.

They are making huge efforts to get away from reliance on their oil.