Heat oil in a pot over medium-high heat. Add rice and cook, stirring, 2 minutes. Mix in remaining ingredients and bring to boil. Cover, reduce heat to low, and cook until rice is tender, about 20 minutes.
If desired, for presentation purposes, the rice can pressed into a lightly-oiled bowl, inverted and unmoulded on to a decorative serving plate, and then garnished with fresh cilantro and slices of lime and tomato.
Serves 4-6 as a side dish.