In a medium saucepan, heat the chicken broth to a low simmer.
In a separate, large, heavy bottom skillet, heat the olive oil and butter over medium heat.
Add the shallot and dry rice. Stir using a wooden spoon to brown evenly, approximately 3-4 minutes.
Add the white wine, stirring until fully soaked up.
Add a ladle of the chicken broth to the rice and stir every once in a while until the liquid is fully absorbed. When the rice appears almost dry, add another ladle of stock and repeat the process until all liquid is absorbed. Grains should be tender, but not crunchy and not mushy.
Stir in the parmesan cheese and season to taste with salt and pepper and serve while hot.
Top with parsley, if desired.
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