Make Up For Ever's All Mat + Mattifying Foundation is a great foundation for oily skin. It's a shine controlling, oil-free, water-resistant, complete coverage liquid foundation that gives a beautiful, soft matte finish. You can read more about at: http://www.sephora.com/browse/product.jhtml?id=P17
You can also use MUFE's "Foundation Shade-Finder" to help you choose the correct color for your skin tone which you can find at: http://sephora.com/browse/brand_hierarchy.jhtml?br
If you're skin is really oily, I'd suggest applying an oil-controlling foundation primer before applying any foundation that you use. It will make a world of difference in how your makeup lasts without your skin becoming oily. The best oil-controlling foundation primers that I have ever used to stop my extreme oiliness from breaking through are the following two:
Make Up For Ever All Mat Foundation Primer which you can read more about at: http://www.sephora.com/browse/product.jhtml?id=P16
Givenchy Mister Mat Mattifying Foundation Primer which you can read all about at: http://sephora.com/browse/product.jhtml;jsessionid
Just in case you're interested, I wanted to let you know about a great oil-controlling setting powder to set your foundation with. It's Urban Decay’s De-Slick Mattifying Foundation Powder which is a colorless, shine-controlling powder that comes in a handy mirrored compact so you can carry it with you for touchups throughout the day. You can find it at: http://www.sephora.com/browse/product.jhtml?id=P21
I hope this helps you.
I have similar skin. I use Cover Girl Trublend Foundation in creamy natural. Then, I use the Cover Girl Professional Loose Powder in translucent light. I also bought a 100 pack of blotting tissues from Old Navy for $5, which really helps throughout the day. I'd also recommend the Bare Minerals/Benefit powder foundations with SPF 15- they're supposed to work pretty well. Good luck!!!!