Large oil company has eyes on Iraq.

DNO, a small Norwegian oil company that controls oil assets in Iraq’s Kurdistan region, announced that a large western oil company has offered $700 million for control over the oil. “DNO refused to name the company, but industry executives speculated that Royal Dutch Shell was a possible bidder. Shell on Wednesday refused to comment. DNO said it had received an ‘unsolicited expression of interest from a reputable financial adviser on behalf of a large international oil company’, but had rejected the offer.”