In a fine sieve, rinse the rice under cool water until the water runs clear
To a non stick skillet, add the oil and rice, stir to coat all rice with oil
Over medium heat, toast the rice for 5-7 minutes, stirring occasionally
Add salt, chili powder, tomato paste, diced tomatoes with green chilis, and chicken broth
Stir to combine and over high heat, bring to a boil
Cover skillet and reduce heat to low, simmer for 20 minutes
Remove the lid, fluff the rice with a fork, cover and let rest off heat for 5-10 minutes
Garnish with chopped cilantro and a squeeze of lime, if desired