The loss coefficients for fully-open and half-open globe and gate valves were determined experimentally during turbulent flow of two-phase oil/water mixtures. The oil concentration was varied from 6 to 97.3 vol %. The emulsions were of oil-in-water type up to an oil concentration of 64 vol %. Above 64 vol % oil, the emulsions were water-in-oil type. An in-line conductance cell was used to monitor the inversion point and the type of emulsion. The loss coefficients for the globe and gate valves during turbulent flow of emulsions are found to be comparable to the values reported for single-phase turbulent flow. The concentration and type of emulsions (oil-in-water or water-in-oil) flowing through the valves have negligible effect on the loss coefficients.