Heat oil in a large pan over medium heat. Add rice to oil, stir well, cook until browned.
Once rice has browned, add chicken stock, water, tomato sauce, salt, garlic powder, onion powder, cumin and chili powder. Stir well and bring to a simmer.
Cover and allow to cook for 20 minutes. Keep pot covered during cooking and do not open to stir. If desired, check around 15 minutes, but resist stirring!
Remove lid, fluff and enjoy!