Heat the olive oil in a large skillet over medium heat.
Add the diced onion and cook until softened, about 5 minutes.
Stir in the minced garlic and cook for another minute.
Add the rice and cook, stirring constantly, until the rice is lightly browned.
Pour in the tomato sauce and chicken broth, then add the salt, cumin, and chili powder. Stir to combine.
Bring the mixture to a boil, then reduce the heat to low, cover, and simmer for 20 minutes.
Stir in the frozen peas, cover, and cook for an additional 5 minutes, or until the peas are heated through and the rice is tender.
Fluff the rice with a fork before serving.