Chickeny Chickeny Rice

Preheat oven to 450 degrees F (230 degrees C).
In a medium saucepan heat water and bullion to a slow boil over medium-high heat. In a large oven safe skillet, heat oil over medium heat. Saute onions until transparent. Increase heat to high and add butter and rice. Stir constantly until the rice becomes starchy, about 3 minutes, and then carefully pour the chicken bouillon stock into the skillet.
Place the skillet in the oven and bake for 20 minutes. Season with salt and pepper to taste.