The amount of ram doesn't matter much. The fact is that intel graphics aren't made for gaming like oblivion. You can try to run the game but don't expect much. It might not launch at all, no matter how much ram you give it, because your graphics card is so weak.
Morrowwind will work fine. I believe it's available for free now too. I just went back and played it again last year. Amazing game if you don't mind the dated graphics and over 150 hours of gameplay with the expansion packs.
Oblivion might be playable at very low settings and no way will Skyrim work.
According to this article Oblivion works pretty good at lowest detail and 720P on an AMD powered netbook. The bad news for you is Intel's integrated graphics are alot worse than AMD's are.