If shrimp are frozen, run them under cool water until thawed. Peel and devein.
Boil a large pot of salted water and cook fettuccine according to package directions.
Chop shallot finely. Add butter, oil, and shallot to a skillet on medium heat.
Cook shallot for about five minutes and then add the wine, garlic, Dijon mustard, diced tomatoes, Italian seasoning, and cook for a few minutes.
Stir in the cream and salt and pepper and then simmer for about 10 minutes to reduce the sauce (you may need to turn it down to medium-low heat if it starts to bubble a lot).
Add in the shrimp and torn basil and cook for another five minutes. Once the pasta is cooked, add it to the skillet and toss with the sauce. Serve immediately with fresh parmesan cheese.