Preheat the oven to 350 F. Toast the hazelnuts in a medium-sized baking tray for 10 minutes to bring out their flavor.
Allow the hazelnuts to cool down and then roughly chop them up.
In a large saucepan, heat up the chicken or vegetable stock until barely simmering, then add the bay leaves.
Heat up a large, deep frying pan to a medium heat. Add the olive oil and 1 tablespoon of butter. Add the onion and cook for 8 to 10 minutes, until softened.
Add the garlic powder and cook for 1 more minute before adding the risotto rice to the pan. Coat it well in the oils of the pan and toast for 1 minute.
Add the white wine to the pan. Allow the rice to cook in the wine until it has absorbed most of the liquid.
Slowly feed the rice with the hot stock, a ladleful at a time, and keep stirring as the risotto cooks, until the rice is plump and creamy, while retaining a little bite, about 15 to 20 minutes.
Take the risotto off the heat and add the butter, stirring it in quickly to emulsify it, making it light and velvety.
Stir in the grated Parmesan and then the majority of the toasted, chopped hazelnuts. Season well with salt and pepper.
Serve the risotto hot, topped with the remaining chopped hazelnuts, a drizzle of hazelnut oil, and a sprinkling of fresh parsley.