A dry reforming (DR) catalyst based on bimetallic Pd–Pt supported on carbon nanotubes is presented. The catalyst was prepared using a microwave-induced synthesis. It showed enhanced DR activity in the 773–923 K temperature range at 3 atm. Observed carbon balances between the reactant and product gases imply minimal carbon deposition. A global three-reaction (reversible) kinetic model—consisting of DR, reverse water gas shift, and CH4 decomposition (MD)—adequately simulates the observed concentrations, product H2/CO ratios, and reactant conversions. Analysis shows that, under the conditions of this study, the DR and MD reactions are net forward and far from equilibrium, while the RWGS is near equilibrium.