You have a scammer. 100% guarenteed. Here's a few of the red flags.
1. The fact that he doesn't know which name he is using a a big tip off. He is using more than one profile and simply didn't check close enough when he was communicating with you.
2. He says he was raised in Europe. This is a classic scammer's story. They have to be able to explain away their accent somehow.
3. Has a son who is not living with him, he is in school in England.
4. He is in oil and contracting. He was setting you up. Eventually, he would have ended up in Africa and then his troubles would have begun. He would have gotten sick, been in car accidents, had his wallet and equipment stolen, needed help to pay the hospital or hotel bill. He wouldn't have anyone else to help but you. He might have gotten checks he couldn't cash or equipment he wanted you to ship to him.
If you haven't already, get rid of him. You are in yahoo, so here's how you do it.
1. First, go to your email and put his address on your blocked list, then delete him from your address book.
2. Go to your IM and remove his nickname from your friends list and put it on your ignore list there.
You were lucky. You didn't get roped in to the point that you lost money or were an accomplice to criminal activity such as money laundering or reshipping. Stop talking to him immediately. Also, know that the pic you have is not who he really is. They steal pictures off the internet and you will never be able to learn who the man behind the picture really is. It could be from a modeling website (this one looks like a professional picture) or it could have been a prior victim. In any case, the person you were talking to is NOT the person you have a picture of.
Please do the instructions listed above in the order listed, and then learn to stay safe of the internet. Learn how to do an IP address search. It will tell you most of the time where the computer was located when the email was written.