Heat the olive oil and butter in a shallow pot. Add the onion to the pot and cook until it gets translucent. Add the pepper to the pot, cook for a few minutes, then add the tomato paste and mix them well.
Add the bulgur to the pot and saute for about 5 minutes. Then add the grated tomatoes, spices, and salt over the bulgur.
Cook for a few minutes, then add the water to the pot and close the lid. When the water is boiled, reduce the heat to medium-low. Cook until the bulgurs boil down for about 10-12 minutes.
Turn off the heat, open the lid and gently fold the bulgur pilaf. After that, close the lid again, and rest for about 20 mins at room temperature.