Heat the oil in a large pot over medium-high heat. Add the onion and bell pepper and cook, stirring, until softened, 5 to 7 minutes. Add the tomato paste, chili powder, cumin, coriander and oregano. Cook, stirring, until brick red, 2 minutes.
Add the beef, 1 teaspoon salt and a few grinds of pepper and continue to cook, stirring, until no longer pink, 3 to 4 minutes. Add the beans, tomatoes, 1 cup water and 1/2 teaspoon salt. Bring to a simmer and cook, adjusting the heat as needed and stirring occasionally, until thickened, 35 to 45 minutes. Season with salt.