In a medium saucepan over medium heat, warm the butter with olive oil. Add the finely diced onion and sauté for 3‐4 minutes until soft and translucent.
Stir in the rice and orzo, ensuring each grain is coated in the butter-oil mixture. Continue to toast them for an additional 3-4 minutes until they turn a light golden color and emit a nutty aroma. Be sure to stir frequently to avoid burning.
Now add the chicken broth along with salt, garlic powder, onion powder, and black pepper. Give it a good stir to combine.
Raise the heat to bring the mixture to a boil, then reduce to a gentle simmer without stirring further. Cover the pan and cook for 17 minutes. Once done, remove from heat and let stand for 5-10 minutes before gently fluffing with a fork. Garnish with fresh parsley.