The first part of the work presents an overview of the physical chemistry of surfactants which in aqueous solutions reduce the frictional loss in turbulent pipe flow. It is shown that these surfactants form rodlike micelles above a characteristic concentraion c t. The experimental evidence for rodlike micelles are reviewed and the prerequisites that the surfactant system must fulfill in order to form rodlike micelles are given. It is demonstrated by electrical conductivity measurements that the critical concentration for the formation of spherical micelles shows little temperature dependence, whereas ct increases very rapidly with temperature. The length of the rodlike micelles, as determined by electric birefringence, decreases with rising temperature and increases with rising surfactant concentration. The dynamic processes in these micellar systems at rest and the influence of additives such as electrolytes and short chain alcohols are discussed.In the second part, the rheological behaviour of these surfactant solutions under laminar and turbulent flow conditions are investigated. Viscosity measurements in laminar pipe and Couette flow show the build-up of a shear induced viscoelastic state, SIS, from normal Newtonian fluid flow. A complete alignment of the rodlike micelles in the flow direction in the SIS was verified by flow birefringence. In turbulent pipe flow, drag reduction occurs in these surfactant systems as soon as rodlike micelles are present in the solution. The extent and type of drag reduction, i.e. the shape of the friction factor versus Reynolds number curve, depends directly on the size, number and surface charge of the rodlike micelles. The friction factor curve of each surfactant investigated changes in the same characteristic way as a function of temperature. For each surfactant, independent of concentration, an upper absolute temperature limit, TL, for drag reduction exists which is caused by the micellar dynamics. T L is influenced by the hydrophobic chain length and the counter-ion of the surfactant system. A first attempt is made to explain the drag reduction of surfactants by combining the results of these rheological measurements with the physico-chemical properties of the micellar systems.