Heat oil and 1 tbsp butter over medium heat. Sauté the shallots for 2 min. Add the rice and stir to coat. Toast for a minute without letting it burn. Stir in wine.
Add hot chicken stock, a ladle at a time, until fully absorbed. Repeat until the rice is al dente, about 20-30 min. Then, stir in remaining butter and Parmesan cheese.