Heat oil and butter oven medium high heat in a Dutch oven.

Add the beef in batches, being careful to not overcrowd the pan. (Your beef will steam, not sear.) Transfer cooked beef to a plate.

Add onions to the pot. Cook until soft, about 3 minutes. Add garlic and cook for an additional minute. Add wine, beef stock, Worcestershire sauce, tomato paste, paprika, salt, pepper, and sugar.

Add beef back to the pot. Bring to a simmer, reduce hear to low and cook for 1 1/2 to 2 hours.

Add carrots and potatoes, cover, and cook for another 30 minutes. If the stew needs liquid, add more stock or water.

Taste for seasoning, add more salt and pepper if necessary. Garnish with parsley. Serve with biscuits or crusty bread.