Prepare the obe ata: Combine all ingredients except the oil in a blender and purée until smooth. Add water if necessary. Aim for about 3 cups of purée.

Heat 2 tablespoons canola oil in a saucepan over medium-high. Add the purée, bring to a simmer, reduce heat, cover, and simmer for 18 to 20 minutes until reduced by a third.

Prepare the rice: Preheat oven to 350 degrees. Heat 1/2 cup canola oil in a Dutch oven over medium. Cook onions until softened, about 6 to 8 minutes. Set half aside. Sauté garlic until fragrant, then add tomato paste, turmeric, and smoked paprika, toasting until aromatic.

Stir in the obe ata sauce until simmering. Add rice, thyme, bay leaf, salt, and pepper. Pour in stock, cover, and transfer to the oven. Cook until rice is tender, about 35 minutes.

Remove from oven and let sit covered for 15 minutes. Uncover, fluff rice with a fork, and stir in reserved onions. Adjust seasoning as needed, and serve warm.