Heat the vegetable oil in a 10-inch skillet over medium heat.
Brown the chicken breasts on both sides and cook until done.
Remove the chicken from the skillet and drain off any fat or oil.
Add the soup, peanut butter, water, sliced onions and chili powder to the skillet.
Stir until smooth and heat to boiling.
Return the chicken to the skillet.
Reduce heat to low, cover and cook for 10–15 minutes, stirring occasionally, until the chicken is thoroughly cooked.