Heat oil in a large nonstick skillet over medium heat; add onion. Cook 20 to 22 minutes or until onion is golden brown, stirring frequently.
. Add 1/2 teaspoon fresh thyme and next 3 ingredients to onion; bring to a boil. Add rice. Cover, reduce heat to medium-low, and simmer 18 to 20 minutes or until liquid is absorbed and rice is tender.
. Remove from heat, and fluff rice with a fork. Stir in remaining 1/2 teaspoon thyme and Parmesan cheese.