In stockpot over medium-high heat, heat first amount of oil. Add rice. Cook, stirring constantly, until rice is slightly toasted, 1 to 2 minutes. Stir in base.
Add 1/3 of the first amount of water. Simmer, stirring constantly, until most of the liquid is absorbed, 2 to 3 minutes.
Add another 1/3 of the water. Simmer, stirring constantly, until most of the liquid is absorbed, 3 to 4 minutes.
Stir in remaining water. Simmer, stirring constantly, until most of the liquid is absorbed and rice is al dente, 5 to 6 minutes.