Heat olive oil in a large deep pot.
Add finely chopped onions and cook, covered, over low heat until tender and lightly colored, about 25 minutes.
Add skinned and seeded plum tomatoes, tomato paste, basil, oregano, salt and freshly ground black pepper.
Simmer for 10 minutes, stirring occasionally.
Add the water and cook very slowly, uncovered, for 3 hours.
Stir in the minced garlic and finely chopped parsley and simmer for another 5 minutes.
Taste and correct seasoning if necessary.
Use immediately or cool to room temperature before covering.
Refrigerate or freeze.
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