Heat the olive oil in a large saucepan or small dutch oven over high heat.
Add the onion and bell pepper and saute until they begin to soften.
Add the rice and stir to coat in the oil. Adjust the heat as necessary.
When the rice begins to change color add the cumin, oregano, salt, pepper, paprika and tomato paste. Stir well to mix.
Add the broth and bring everything to a boil.
Reduce the heat to a simmer, give it one more good stir and cover with a lid.
Simmer for about 20 - 30 minutes, depending on the type of rice. It's done with then liquid is absorbed and the rice is cooked through.