Place a large heavy saucepan over medium heat. Add oil; when hot, add chicken and cook, turning occasionally, until browned on all sides, 15 to 20 minutes. Remove chicken to a platter and drain all but 1 tablespoon oil. Add the onion and cook, stirring occasionally, until the onions are soft, 8-10 minutes. Reduce heat to low and stir in corn, corn liquid, and cream. Add onion, bell pepper, tomatoes, thyme, basil, and salt and pepper to taste. Bring to a simmer and return chicken to pan; cook, stirring from time to time, until chicken is very tender, about 35 to 40 minutes. Taste and adjust seasonings; serve in soup bowls.