Heat vegetable oil in large saucepan over medium-high heat. Add onion; cook, stirring occasionally, for 3 to 4 minutes or until tender. Add 4 cups corn; cook, stirring occasionally, for 4 to 5 minutes or until tender. Add chicken broth; cook, stirring frequently, for 15 minutes or until corn is very soft.
Place corn mixture in blender or food processor; blend until smooth. Return to saucepan. Stir in remaining corn, evaporated milk, bell pepper and rosemary.
Cook for 5 to 10 minutes, stirring frequently, until chowder is thick and bell peppers are tender. Season with salt and pepper. Garnish with basil.
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