Heat the oil in a medium saucepan over medium heat until it shimmers. Add the onion and bay leaf and cook until the onion is golden brown, 12 to 15 minutes. Sprinkle in the garlic and cook for 1 minute more.
Add the tomatoes and simmer until softened, about 3 minutes. Tip in the wine and let it bubble until almost evaporated, 1 to 2 minutes.
Pour in the stock and bring to a boil. Add the rice, 1/2 teaspoon salt, 1/4 teaspoon pepper and the tomato paste, if using. Reduce the heat to low and cook, covered, until the rice is tender and all the liquid is absorbed, 20 to 25 minutes.
Toss out the bay leaf and shower the rice with the parsley and oregano.