Heat Dutch oven to medium on stove top for 2-3 minutes. Add 1 Tbs each of butter and oil. Cook shrimp 2-4 minutes, stirring halfway through to brown on both sides. Remove shrimp from the pan.
De-glaze pan with lemon juice by adding it to the pan and stirring to combine the brown bits, still on medium heat (1 minute max).
Quickly add 1 Tbs oil garlic, thyme, paprika, lemon zest, and rice. Stir and cook on medium for 2 minutes uncovered.
Add all the broth, salt, and black pepper, and other 1 Tbs of butter and stir. Still on medium heat, cook uncovered for about 20 minutes, stirring frequently.
Turn heat off. Add cream and parmesan and stir. Let sit 5 minutes. Taste and add more salt and black pepper as desired. Stir and serve right away.
Add shrimp to the risotto and mix in, or add to the top of each serving.
Rice should still be a bit under cooked (slightly chewy), and mixture should be thick and creamy. If thicker than you want, you can add more broth or cream.