The fall of Venezuela has less to do with socialism or big government, and more with cronyism, short sightedness and incompetence. An economy running on only one export will definitely fail when that commodity's price drops or demand lowers. Venezuela put all its eggs in one basket, and now pays the price. The exact same happened in the '80s, under capitalist leadership. Compare and contrast Norway and the Netherlands, both rich countries with lots of oil and/or gas, who invested that money in their semi-socialist economy, or Saudi-Arabia, where the money gets used to keep the populace sedate and happy while the happy few grow ever fatter and richer.
Venezuela nationalized their previously independently owned oil fields, and then built the government on top of oil profits.
If the government had stayed out of the oil business and simply taxed those businesses, and if they hadn't nationalized their food/farms/production then I don't think they would be in the situation they are in today.
You point to Norway and Netherlands, and the big difference I see there is "state owned" to them is infrastructure, transportation, communication - trains, airports, post, radio, TV. The government doesn't depend on the income from these enterprises.
Venezuela is a very different form of "state owned" where they took everything that was profitable and made it a government owned business, and then based their government income on those businesses.
So yes, while the oil dropping would have caused problems due to lower government income under the old system, it wouldn't have also resulted in shuttered farms and food production - they simply wouldn't have had so much money to start off with, and the oil fall wouldn't have affected the government income so drastically.
Venezuela, with perhaps the world's greatest oil reserves, started importing oil recently because it was cheaper than producing it themselves.
Norway and Netherlands depend only partially on taxing oil businesses.