This paper presents the application of a hot-film anemometer based two-phase flow measurement technique to the investigation of the structure of a vertical pipe flow of a water-kerosene mixture. Experiments were carried out within the bubbly flow, spherical cap bubble and churn flow regimes. The results obtained show that the radial profile of the local volume fraction is uniform at low volumetric quality, beta, but becomes wall peaked as beta increases. The average oil drop size is uniform across the pipe and independent of beta for values of beta below 15%, but at higher values the drop size increases in the central region of the pipe. The velocity profile becomes more uniform as beta increases from zero to about 15%, but then becomes steeper again at higher values of beta, and the variation of the centreline turbulence intensity with beta shows a local minimum for beta congruent to 20%. The one-dimensional energy spectrum for the water-kerosene mixture flow is found to be composed of two power laws with exponents -1 at lower frequencies and -5/3 at higher frequencies, and the characteristic length scales associated with the continuous phase turbulence decrease substantially with increasing beta.