In a large sauté pan with a lid, heat the oil over medium heat. Add the rice and cook, stirring, until rice turns white and very lightly brown. Remove from heat and stir in tomato sauce. Be careful of splatters. Stir well. Stir in chicken broth and return to heat. Bring to bubbling.
Cover and reduce heat to low. Cook for 15 minutes or until almost all liquid is absorbed. Remove lid and fluff with a fork.
Continue to cook on low for about five minutes to remove any extra liquid. Season to taste with salt and pepper and serve.
To prepare this recipe in the electric pressure cooker:
Heat the oil in the pot on sauté. Add the rice and continue cooking, stirring, until the rice turns white and very lightly brown.
Stir in the tomato sauce and only 1 1/2 cups chicken broth. Stir gently to combine.
Cover and secure the lid. Turn the pressure valve on. Hit the manual button and cook for 4 minutes.
When the timer beeps, allow the rice to rest for 10 minutes before releasing the pressure valve. Once all the pressure has escaped, remove the lid and fluff the rice with a fork.
Notes: Store cooked rice in a covered container in the refrigerator for up to four days. If preparing Mexican rice with long grain brown rice, increase the cooking time to 40 to 45 minutes.