This is a quick and useful preserve that we use in recipes like the Wensleydale tart and our filo pastry parcels. It will keep in the fridge in a sealed jar for 3 to 4 weeks.
Put the sliced red onions into a heavy-based pot with the butter, oil and sugar. Cook on a medium heat, stirring from time to time, for 15 minutes or until the onions are well softened.
Add the lemon juice, balsamic vinegar, red wine, salt and black pepper and cook for another 5 minutes, then taste and adjust the seasoning if it needs it.