In a small resealable plastic bag, combine the oil and lime juice; add chicken. Seal bag and turn to coat; refrigerate for at least 1 hour.
Drain and discard marinade. Grill chicken, uncovered, over medium heat for 5-7 minutes on each side or until juices run clear. Meanwhile, in a skillet, saute onion and peppers in butter until tender. Stir in the rice, salt and pepper; heat through. Serve with chicken. Yield: 1 serving.