Hi in oblivion some races could regenerate magic dose this happen in Skyrim ?

Bretons have Dragonskin racial spell which absorbs 50% of Magic casted at him.

Altmer have the Highborn racial spell which regenerates a lot of magicka

So yeah, it's still in Skyrim!

You also can enchant items with "Regen Magicka X%" enchants which can add further to this
And with 100 Enchant skill, and the Final Perk you can Add 2 Enchants per item... so you can go crazy with mana regen

Hope this helps!