Heat chicken stock until warm. Remove from heat, add saffron, and soak for 20 minutes.

In a medium skillet, heat oil and 1 Tbls. of the butter. Add onion and cook over low heat, stirring occasionally, until soft but not browned. Add rice and cook, stirring occasionally, until rice is lightly browned.

Pour in saffron flavored stock and add salt and pepper. Bring to a boil, cover, and simmer over low heat for 20 minutes.

Let rice stand, covered, for 10 minutes.

Using a large fork, carefully stir in the remaining butter and taste for seasoning. Serve immediately.